U.S. Steel and Nippon Boost Investment Bid to Seal Deal With Trump Officials, Reports Semafor

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(GudangMovies21) - According to Semafor’s report on Thursday, Nippon Steel and U.S. Steel are currently negotiating a deal aimed at maintaining their $14 billion merger. This agreement could also lead to additional significant investment from the Japanese company into industrial sites located in the Rust Belt region.

During recent discussions with White House representatives, Nippon proposed boosting its earlier offer of $2.7 billion for upgrading U.S. steel plants up to potentially $7 billion, according to the report, which referenced individuals aware of these talks.

Nippon Steel and U.S. Steel did not promptly reply to GudangMovies21's request for comments.

On Monday, Nippon Steel’s president, Tadashi Imai, informed journalists that both Japan's largest steel producer and U.S. Steel will keep discussing with the U.S. administration to finalize an accord regarding the equity acquisition as well as forthcoming investment strategies.

In February, U.S. President Donald Trump, along with Japanese Prime Minister Shigeru Ishiba at the Oval Office, stated that Nippon Steel's $14.9 billion proposal for U.S. Steel would be structured as an investment rather than a buyout.

Trump also said in mid-February that he would not mind if Nippon Steel took a minority stake in U.S. Steel.

In December 2023, Nippon Steel, ranking as the globe’s fourth-largest steel producer, proposed a $14.9 billion acquisition of U.S. Steel. The company assured significant financial commitment toward modernizing outdated facilities and committed to maintaining its corporate base in Pittsburgh, Pennsylvania.

(Reported by Nilutpal Timsina in Bengaluru; Edited by Alan Barona)

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