Nippon Steel’s US Steel Acquisition Deadline Extended Until June

TOKYO, Jan 12 (News On Japan) - The deadline for the U.S. presidential order, which demanded the termination of Nippon Steel’s planned acquisition of U.S. Steel within 30 days, has been extended.

The presidential order issued on the 3rd required Nippon Steel to completely terminate its acquisition plans by February 2nd.

However, the Committee on Foreign Investment in the United States (CFIUS), which has been reviewing the acquisition, has reportedly approved an extension of the deadline to June 18th.

Nippon Steel commented on the morning of January 12th: "We remain committed to completing this acquisition, which promises the best future for the U.S. steel industry and all stakeholders."

Nippon Steel and U.S. Steel had filed a lawsuit against President Biden and others, claiming undue political interference regarding the acquisition plans.

Source: ANN

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