The proposed acquisition has drawn bipartisan opposition, with both President Biden and former President Trump arguing U.S. Steel should remain American-owned.
Nippon Steel initially pledged $1.4B in U.S. investments, later raised to $2.7B, and now up to $14B, including $11B through 2028 and $1B on a greenfield site—potentially expanding to $4B.
Nippon faces a $565 million breakup fee if the deal collapses, and continues to grapple with 25% U.S. steel tariffs.
Info comes via Reuters report Monday US time.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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