Nippon Extends US Steel Acquisition Awaiting President's Final Decision

(RTTNews) - Japan-based Nippon Steel Corp. (NPSCY.PK), Thursday announced that the company has extended the closing date of its acquisition of U.S. Steel Corp. (X), which is expected to strengthen the nation's economic security, and job security.

The announcement comes as the Committee on Foreign Investment in the U.S. has referred the acquisition matter to President Joe Biden, who will make a final decision about the deal within 15 days.

Additionally, the review process of the Antitrust Division of the U.S. Department of Justice is still pending.

The estimated closing date of the deal has been pushed to the first quarter of 2025 from the previously expected third or fourth quarter of 2024, as per Investing.com.