Nippon Steel remains committed to acquiring US Steel (X), Reuters reported Tuesday, citing Nippon Steel's Vice Chairman Takahiro Mori.
The Japanese steelmaker is seeking a meeting with US Treasury Secretary Scott Bessent to understand President Donald Trump's position on the $15 billion deal, the report said, adding that Trump is expected to make a final decision on the transaction by June 5.
A national security review by the Committee on Foreign Investment in the US is reportedly due by May 21 after former President Joe Biden had blocked the deal in January over national security concerns, following an earlier review.
Only full ownership, not a joint venture, would enable Nippon Steel to transfer its key technologies and improve US Steel's competitiveness, Reuters said, citing Mori.
Mori also said the company will not share its core technology without full control, according to the report.
Nippon Steel, US Steel, the US Treasury department and CFIUS 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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