U.S. Steel deal will have smooth road after election, Nippon Steel says

Japanese steelmaker says it will work to win over American company's stakeholders

Nippon Steel Executive Vice President Takahiro Mori (right), on May 9 in Tokyo said there will be no negative impact on his company's planned acquisition of U.S. Steel if the deal's completion is pushed back to the end of the year. (Photo by Nanami Sato)

AKANE OKUTSU, Nikkei staff writer

May 9, 2024 20:29 JST

TOKYO -- The politicization of Nippon Steel's planned acquisition deal in the U.S. will fizzle out after the American presidential election in November, Takahiro Mori, vice chairman of the Japanese steelmaker, said on Thursday.

The original plan was to complete the planned acquisition of U.S. Steel before election campaigning gained momentum.