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 20, 2024 8:00 AM

, TOKYO (Reuters) -Japan's Nippon Steel 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 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 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 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 >
What's Going On With Electronics Maker Kopin's Stock Today?
What's Going On With Electronics Maker Kopin's Stock Today?
Mar 26, 2025
Shares of electronic manufacturer, Kopin Corporation ( KOPN ) are trading higher in premarket on Wednesday. The company said it has secured a major funding award from the U.S. Army to develop extended reality (XR) heads-up displays (HUD). This project is designed to boost battlefield situational awareness by delivering a see-through HUD that enhances visual comfort and energy efficiency. The...
Rivian spin-off Also reveals it will make lightweight electric vehicles
Rivian spin-off Also reveals it will make lightweight electric vehicles
Mar 26, 2025
(Reuters) - Micromobility startup Also said on Wednesday it has been spun-off from electric-vehicle maker Rivian Automotive ( RIVN ) with $105 million in Series B funding from venture capital firm Eclipse and will focus on lightweight EVs. Also will offer small, lightweight, electrically powered vehicles to serve customers at various price points and across geographies, the company said, but...
GameStop Stock Is Surging Wednesday: What's Going On?
GameStop Stock Is Surging Wednesday: What's Going On?
Mar 26, 2025
GameStop Corp ( GME ) shares are trading higher Wednesday after the company reported fourth-quarter earnings and announced the approval of Bitcoin (CRYPTO: BTC) as a treasury reserve asset. Here’s a look at what you need to know. Q4 Revenue: $1.283 billion, versus estimates of $1.48 billion Q4 Adjusted EPS: 30 cents, versus estimates of 8 cents Total revenue was...
Wave Life Sciences Reports 'Positive' Data for Prospective Duchenne Treatment; Shares Up Pre-Bell
Wave Life Sciences Reports 'Positive' Data for Prospective Duchenne Treatment; Shares Up Pre-Bell
Mar 26, 2025
09:20 AM EDT, 03/26/2025 (MT Newswires) -- Wave Life Sciences ( WVE ) shares were higher premarket Wednesday after the company reported positive 48-week data from a phase 2 trial of its WVE-N531 drug candidate in boys with Duchenne muscular dystrophy who are amenable to exon 53 skipping. The biotechnology company said the boys received 10 milligrams of the exon...
Copyright 2023-2026 - www.financetom.com All Rights Reserved