Nippon Steel to use U.S. Steel acquisition deal as base for government talks

TOKYO (Reuters) -- Nippon Steel plans to use its current merger agreement to acquire U.S. Steel as a starting point for talks with the U.S. government, President Tadashi Imai said on Tuesday, as it aims to revive the deal.

Earlier this month, U.S. President Donald Trump, alongside Japanese Prime Minister Shigeru Ishiba at the Oval Office, said that Nippon Steel's $14.9 billion bid for U.S. Steel, which was blocked by former President Joe Biden, would take the form of an investment instead of a purchase.