TOKYO -- Japan's Nippon Steel said on Monday that it would acquire U.S. Steel for more than 2 trillion yen ($14 billion) in a move that seeks greater reach in a vital market.
The deal for the iconic American steel producer is set to be one of the largest acquisitions ever by Nippon Steel. It is aimed at strengthening the company's position in the growing U.S. market amid declining demand for steel products in Japan and the growing importance of electric vehicles.
