02:26 PM EDT, 04/12/2024 (MT Newswires) -- (Updates first three paragraphs with details from US Steel statement.)

US Steel (X) said Friday its shareholders voted at a special meeting to approve the $14.1 billion takeover offer by Nippon Steel.

Based on the preliminary count, more than 98% of the shares, representing about 71% of the issued and outstanding shares of US Steel as of record date, were voted in favor of the Nippon Steel deal, US Steel said.

US Steel said it will disclose the final voting results in due course.

Nippon Steel did not immediately respond to a request for comment by MT Newswires.

Shares of US Steel fell 2.5% in recent trading Friday.

Price: 41.18, Change: -1.05, Percent Change: -2.49