Nippon Steel

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Biden plans to block the merger of Nippon Steel and US Steel – Bloomberg

CFIUS is due to deliver its decision on December 22-23

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Nippon Steel plans to complete the acquisition of US Steel by the end of the year

The agreement can be completed if the necessary procedures are completed

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Japanese Prime Minister urges US to approve deal between Nippon Steel and US Steel – Reuters

The US Committee on Foreign Investment is currently reviewing the acquisition

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US increases import duties on Nippon Steel hot-rolled steel

At the same time, Nippon Steel promises American trade unions not to import slabs from foreign factories to the US

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Nippon Steel has applied for a subsidy to build new EAFs

In this way, the company aims to support its decarbonization efforts

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Nippon Steel will sell shares of South Korean POSCO

This step is designed to increase the efficiency of the Japanese steel company's assets

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Cleveland-Cliffs expresses interest in buying some assets of US Steel

This includes plants that are slated to close if US Steel's deal with Nippon Steel does not go through

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US Steel and Cleveland-Cliffs enter into a public dispute over the deal with Nippon Steel

The companies exchanged statements regarding the planned sale

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Nippon Steel increased steel supplies by 1.8% y/y in FY2023/2024

Consolidated steel production in this period increased by 0.5% annually

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US Steel shareholders approve Nippon Steel’s $14.9 billion offer

More than 98% of votes were cast in favor of the deal

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EU considers acquisition of US Steel by Japanese Nippon Steel

Antitrust decision on the deal is expected in mid-May

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US Senator calls for investigation into possible ties between Nippon Steel and China

At the same time, the United Steelworkers rejected the Japanese company's request to support the takeover

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