financetom
Business
financetom
/
Business
/
Nippon Steel exec headed to Washington next week in push for US Steel deal, source says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Nippon Steel exec headed to Washington next week in push for US Steel deal, source says
May 26, 2025 5:26 AM

May 9 (Reuters) - Nippon Steel ( NISTF ) Vice Chairman

Takahiro Mori is headed to Washington next week as the company

seeks to win approval of its $15 billion bid for U.S. Steel

, a person familiar with the matter said.

Semaphor, which first reported news of the visit, said

Mori would meet with Trump administration officials during the

trip, citing sources.

U.S. Steel and Nippon Steel ( NISTF ) did not immediately respond to

requests for comment.

Former President Joe Biden blocked the proposed tie-up

in January citing unspecified national security concerns related

to a national security review of the deal led by the Committee

on Foreign Investment in the US.

After the decision, the two companies sued CFIUS, which

scrutinizes foreign investments for national security risks,

alleging that Biden had prejudiced the committee's decision and

violated the companies' right to a fair review.

They argued Biden did so in 2024 by expressing

opposition to the deal when he was running for re-election to

win support from the United Steelworkers union in the swing

state of Pennsylvania, where U.S. Steel is headquartered. The

Biden administration had defended the review as essential to

protecting security, infrastructure, and supply chains.

In April, President Donald Trump

directed CFIUS to take a fresh look

at the merger to help determine if "further action" is

appropriate, raising hopes that the deal could gain an elusive

green light.

But Trump has since doubled down

on comments expressing opposition to the deal, saying later

that month that he didn't think a foreign company should control

U.S. Steel, dimming hopes for approval.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Global insurance rates fall 0.9% in 2024, first drop since 2017, report says
Global insurance rates fall 0.9% in 2024, first drop since 2017, report says
Jan 2, 2025
LONDON (Reuters) - Global insurance premiums fell 0.9% last year as the market became more competitive after years of rate rises, insurance broker Howden said in a report on Thursday. Insurers have consistently raised rates in recent years in response to losses from wars and natural catastrophes, and due to inflationary pressures. This has made them profitable, which has encouraged...
Synaptics, Google Partner to Advance AI-Powered IoT Technologies
Synaptics, Google Partner to Advance AI-Powered IoT Technologies
Jan 2, 2025
04:28 AM EST, 01/02/2025 (MT Newswires) -- Synaptics ( SYNA ) said Thursday it is working with Alphabet's (GOOG, GOOGL) Google ( GOOG ) to advance artificial intelligence-powered Internet of Things technologies. The collaboration will integrate Google's ( GOOG ) Multi-Level Intermediate Representation-compliant machine learning core into Synaptics' ( SYNA ) Astra hardware with open-source software and tools. The company...
Dollar eases in cautious start to 2025; yen lingers at five-month lows
Dollar eases in cautious start to 2025; yen lingers at five-month lows
Jan 2, 2025
SINGAPORE/LONDON (Reuters) -The dollar wobbled a touch on Thursday, the first day of trading of 2025, a year in which the U.S. currency is expected to perform strongly again after posting gains in 2024. Market focus early in the year will be on the incoming Trump administration and its policies that are widely expected to not only boost growth but...
ON Semiconductor Gets License to Weebit Nano's ReRAM Technology
ON Semiconductor Gets License to Weebit Nano's ReRAM Technology
Jan 2, 2025
04:00 AM EST, 01/02/2025 (MT Newswires) -- ON Semiconductor (ON) was granted a license to Weebit Nano's resistive random access memory, or ReRAM, technology, Weebit Nano said Wednesday. Under the agreement, Weebit's ReRAM technology will be integrated into ON Semiconductor's Treo platform, providing low-power, cost-effective and high-temperature-resistant embedded non-volatile memory. Financial terms of the agreement were not disclosed. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved