Nippon Steel extends closing date for US Steel acquisition

TOKYO, Dec 26 (Reuters): Japan's Nippon Steel said on Thursday it has extended the closing period for its $15 billion purchase of US Steel, expressing confidence that the acquisition will protect and grow the American company.
The estimated closing date was revised to the first quarter of 2025 from the third or fourth quarter of 2024 previously.
On Monday, a US foreign investment committee referred the decision whether to approve or block the deal to US President Joe Biden, who has 15 days to decide.
Biden and his incoming successor, Donald Trump, have both expressed opposition to the purchase.
"Nippon Steel hopes that the President will use this time to conduct a fair and fact-based evaluation of the acquisition.