U.S. Steel CEO confident Nippon Steel deal will close 'on its merits'

Burritt eyes 'better and bigger' strategy with Japanese suitor

20240917N U-S-STEEL-M-A-NIPPON-STEEL

Nippon Steel's planned acquisition of U.S. Steel faces opposition from the American presidential candidates of both major parties. © Reuters

DETROIT, Michigan (Reuters) -- U.S. Steel CEO David Burritt said on Tuesday he was confident Nippon Steel's $14.9 billion bid for his company would "close on its merits," despite political opposition and concerns raised in a national security review.

Burritt, speaking at the Detroit Economic Club, described the review process as "very robust" but added, "we trust the process, we respect the process."

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