Market Chatter: Nippon Steel's $15 Billion US Steel Purchase Faces US Opposition

MT Newswires Live

2024/09/12

Nippon Steel's (TYO:5401) $15 billion acquisition of US Steel is encountering strong resistance from President Joe Biden and Vice President Kamala Harris over national security concerns, Financial Times reported Tuesday.

Vice-Chair Takahiro Mori will meet with US officials in Washington to address the issue, the report said.

The deal, which impacts Pennsylvania-a key swing state-has also drawn criticism from former President Donald Trump. Despite some experts dismissing the national security threat, the deal's future remains uncertain, complicating US-Japan relations, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (JPY): $2950.00, Change: $+5.0, Percent Change: +0.17%

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