Nippon Steel's talks with the US government over its planned acquisition of US Steel (X) are in the final stage, Nikkei Asia reported Friday, citing Nippon Steel President Tadashi Imai.
Imai said that they are now waiting for US President Donald Trump's final decision on the deal, according to the report.
He expressed hope that US authorities will recognize the potential benefits of Nippon Steel's investment and technology for US Steel's long-term growth, Nikkei Asia reported.
The Committee on Foreign Investment in the United States has submitted its findings to Trump, who must now decide whether to approve the deal, Reuters recently said.
Shares of US Steel were up about 6.9% in recent trading.
Nippon Steel, US Steel, CFIUS and the US Treasury department did not immediately respond to requests for a comment from MT Newswires.
(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.)
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