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Nippon Steel hires Mike Pompeo to advise on US Steel deal, Kyodo reports
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Nippon Steel hires Mike Pompeo to advise on US Steel deal, Kyodo reports
Jul 19, 2024 11:59 PM

TOKYO, July 20 (Reuters) - Nippon Steel Corp. ( NISTF )

has hired former U.S. Secretary of State Mike Pompeo as an

adviser on its efforts to acquire US Steel, Kyodo news agency

reported on Saturday.

"We look forward to working closely with him to make the

United States' economy and security stronger," Kyodo quoted

Nippon Steel ( NISTF ) as saying in a statement.

The world's No. 4 steelmaker also credited Pompeo, who

served as secretary of state under Donald Trump's presidency, as

being a well-respected figure among both Democrats and

Republicans, according to the Kyodo report.

The Japanese steelmaker did not immediately respond to a

request for comment from Reuters, which was initially reported

by Bloomberg.

Although both steelmakers have received all regulatory

approvals outside of the United States for their proposed $14.9

billion merger, they face political opposition and regulatory

scrutiny from within the U.S.

Nippon Steel ( NISTF ) also faces objections from the powerful United

Steelworkers (USW) union over fears of job losses.

Both Republican nominee Trump and President Joe Biden have

said they would block the deal.

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