US Steel, Nippon Steel receive all non-US regulatory approvals

By Thomson Reuters May 30, 2024 | 8:29 AM

(Reuters) – United States Steel Corp and Nippon Steel said on Thursday they had received all regulatory approvals outside of the United States related to their proposed $14.9 billion merger.

The two steelmakers reiterated that they expect the deal to be completed in the second half of the year.

Nippon clinched the deal last December but the merger ran into political opposition in the United States, with lawmakers opposing it on national security concerns and President Joe Biden saying he wants U.S. Steel to be domestically owned.

(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Shilpi Majumdar)