TOKYO, Jan 15 (Reuters) - Japan's Nippon Steel ( NISTF )
remains interested in working with the incoming administration
of Donald Trump to try to seal a takeover of U.S. Steel,
its vice chairman Takahiro Mori said an opinion piece in the
Wall Street Journal.
Last week, Nippon Steel ( NISTF ) and U.S. Steel filed two lawsuits
after U.S. President Joe Biden blocked a $14.9 billion buyout of
the American steelmaker by the Japanese firm. President-elect
Donald Trump takes office on Monday.
Enforcement of Biden's order, which gave the parties 30 days
to unwind the transaction, was postponed until June after the
companies sued the U.S. president, alleging he violated the
constitution by depriving them of due process when he blocked
the deal.
"Nippon Steel ( NISTF ) and U.S. Steel will do whatever it takes to
close this transaction," Mori said in the WSJ piece. "We believe
our case is strong, and we look forward to our day in court."
Cleveland-Cliffs ( CLF ), whose earlier bid for U.S. Steel
was rejected by the latter's board, is partnering with peer
Nucor ( NUE ) to prepare a potential all-cash bid for the
company again, a source told Reuters this week.
"We remain interested in exploring possible partnerships
with the new administration to invest in and grow U.S. Steel to
benefit American workers, customers, and national security,"
Mori, Nippon Steel's ( NISTF ) key negotiator on the deal, said in the
opinion piece.
The decision to file lawsuits was not taken lightly, Mori
said, while reiterating that Japan is one of U.S. closest allies
and the company did not believe there was any national security
concern regarding the takeover.
"Major companies in allied nations want to invest in the
U.S. and employ Americans. Now they wonder if they'll be treated
as partners or political pawns," Mori said.