financetom
Business
financetom
/
Business
/
Nippon Steel executive to visit U.S. to meet stakeholders of U.S. Steel deal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Nippon Steel executive to visit U.S. to meet stakeholders of U.S. Steel deal
May 17, 2024 6:52 PM

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.

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 >
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved