May 18, TOKYO (Reuters) -
Japan's Nippon Steel ( NISTF ) said on Saturday its vice
chairman, Takahiro Mori, a key negotiator for its planned
purchase of U.S. Steel, will travel to the United States
next week to meet stakeholders as part of continued efforts to
complete the deal.
A spokesperson for Nippon Steel ( NISTF ) in Tokyo said Mori will
visit the United States to continue dialogues with various
stakeholders of the deal to gain a better understanding. She
declined to give further details such as who Mori will be
meeting with and how long he will stay in the U.S.
U.S. Steel deferred to the Japanese counterpart for
comment.
In December, Nippon Steel ( NISTF ) offered nearly $15 billion to take
over U.S. Steel, drawing resistance from both Democratic
President Joe Biden and Republican former President Donald
Trump, as well as the United Steelworkers (USW) union.
To win support from the USW, Nippon Steel ( NISTF ) has pledged to
move its U.S. headquarters to Pittsburgh, Pennsylvania, where
U.S. Steel is based, offering commitments on job security and
additional investments if the deal goes through.
Bloomberg reported on Friday in the U.S. that Mori will
travel to Pittsburgh next week to meet with local staff and
elected officials, citing people briefed on the matter.
The Japanese steelmaker expects to close the deal in the
second half of 2024, compared with its prior deadline of the
second to third quarter, after the U.S. Department of Justice
sought more details and materials in an antitrust review. The
European Commission has already approved the deal.
Despite mounting opposition, an overwhelming majority of
U.S. Steel shareholders voted in
favor
of the deal in April.