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US Department of Justice opens probe into Nippon Steel's US Steel deal
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- 11 April, 2024
- 05:38
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The US Department of Justice has opened an in-depth antitrust investigation into Nippon Steel's $14.1 billion takeover of US Steel, Report informs referring to Reuters.
The deal has faced the scrutiny of US lawmakers over national security concerns, with President Joe Biden saying last month US Steel must "remain an American steel company that is domestically owned and operated."
During a visit to the US, Japanese Prime Minister Fumio Kishida said he hoped the deal would proceed in a positive direction but did not criticize the DoJ's scrutiny of the takeover.
The deal has also faced the disproval of the United Steel Workers union.
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