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Market Chatter: Nippon Steel Vice Chairman to Visit US Next Week to Discuss Proposed Acquisition of US Steel
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Market Chatter: Nippon Steel Vice Chairman to Visit US Next Week to Discuss Proposed Acquisition of US Steel
Jul 3, 2024 5:29 AM

08:02 AM EDT, 07/03/2024 (MT Newswires) -- Nippon Steel's vice chairman, Takahiro Mori, plans to visit the US next week to discuss its proposed acquisition of its American rival United States Steel ( X ) , Reuters reported late Tuesday.

The planned visit by the Japanese firm's key negotiator for the deal follows trips to the US in May and last month, the report said.

US Steel's management has backed the bid but the transaction runs into resistance from the White House and the United Steelworkers union, the report said.

US Steel and Nippon Steel did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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