Nippon Steel Postpones Acquisition of U.S. Steel Following DOJ Request

The closing of the $14.1 billion deal is delayed to late 2024 amid regulatory scrutiny and political opposition.

Nippon Steel has pushed back the expected closing date of its acquisition of U.S. Steel to the end of 2024, following a request for more documentation from the U.S. Department of Justice.
The deal, initially set to close by September, faces resistance from President Joe Biden and former President Donald Trump, citing national security and economic concerns.
Despite the delay, Nippon Steel remains committed to the merger, asserting that it will strengthen the U.S. steel industry and preserve jobs.
U.S. Steel shareholders overwhelmingly approved the acquisition, which was first announced in December.
The acquisition is under additional scrutiny by the Committee on Foreign Investment in the United States, which assesses national security risks from foreign investments.