04:36 AM EST, 12/26/2024 (MT Newswires) -- US Steel's (X) pending takeover by Nippon Steel got an extended closing date of Q1 2025 from Q3 or Q4 2024 previously.

The Japanese firm said Thursday it revised the terms of the nearly $15 billion bid after the Committee on Foreign Investment in the United States, or CFIUS, failed to agree on whether to approve the deal and instead referred the matter to US President Joe Biden, who has 15 days to make a final determination.

"Nippon Steel hopes that the President will use this time to conduct a fair and fact-based evaluation of the acquisition," Nippon Steel said.

US Steel did not immediately respond to MTNewswires' request for comment.