11:17 AM EDT, 04/12/2024 (MT Newswires) -- (Updates with additional details in second and third paragraph, no immediate company replies in last paragraph)

United States Steel ( X ) and Nippon Steel Corp. are weighing whether to push back the time frame to close their $14.1 billion deal to the second half of 2024, Bloomberg reported, citing people familiar with the conversations.

The current guidance is to close the deal, which involves Nippon acquiring United States Steel ( X ), either in the second quarter or third quarter, the report said. The United Steelworkers union and President Joe Biden are opposing the deal.

United Steel shareholders are set to hold a special meeting Friday afternoon to approve the takeover, the report said.

The two companies did not immediately reply to MT Newswires' requests for comment.

(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.)

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