03:19 PM EDT, 07/19/2024 (MT Newswires) -- (Updates with Nippon Steel's confirmation in first paragraph.)

Nippon Steel hired former US Secretary of State Mike Pompeo to help close its proposed $14.1 billion purchase of US Steel, Bloomberg reported Friday, citing the Japanese company.

Pompeo, who served under former President Donald Trump, said the US should expand its manufacturing base through partnership with allies, according to a statement from Nippon Steel, Bloomberg reported.

Nippon Steel didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 38.07, Change: +0.23, Percent Change: +0.61