Nippon Steel continues negotiations with US Steel on acquisition

Japan's largest and the world's third-largest steelmaker, Nippon Steel, is continuing negotiations with the second-largest US steel company, US Steel, regarding a potential acquisition.

Report informs via Reuters that Nippon Steel President Tadashi Imai confirmed the ongoing discussions. He emphasized that the deal would strengthen the US steel industry. Negotiations are set to focus on finalizing the terms for purchasing shares and capital expenditures, among other aspects.

It’s worth noting that earlier, on January 6, 2025, the companies filed a lawsuit against US President Joe Biden and his administration over the White House's decision to block the deal.

The companies argued that Biden's move to block the acquisition of US Steel by the Japanese giant was an "illegal political interference."

This case marked the first instance of a major Japanese company suing the US president.