Nippon Delays US Steel Deal
Published on May 3, 2024
The controversial $14.9 billion deal to sell U.S. Steel to Japan-based Nippon Steel Corporation has been delayed while the U.S. Department of Justice (DOJ) reviews the acquisition. That is according to a May 3 statement from Nippon. Both Nippon and U.S. Steel received DOJ requests for more documents in connection with an antitrust review of the merger. After that request, Nippon moved the closing date back roughly three months, from the second or third quarter of 2024 to the third or fourth quarter of 2024. With so many details in the transaction, the closing date is, and has been, an estimated time frame....