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AP-National

Nippon Steel delays closing of acquisition of US Steel until late this year after US DOJ request

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Published 3:55 AM

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Nippon Steel says it has postponed the expected closing of its $14.1 billion takeover of U.S. Steel by three months after the U.S. Department of Justice requested more documentation related to the deal. In a release, Tokyo-based Nippon Steel said it was cooperating with the request and the deal, already approved by U.S. Steel’s shareholders, is still expected to go through. President Joe Biden’s administration has balked at the deal on economic and national security grounds. So has former President Donald Trump, the likely Republican presidential candidate in the November election. Nippon Steel denied reports that the delay was related to the presidential election.

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