Nippon Steel’s US Steel takeover plan has support in steelmaking areas, executive says

TOKYO (Reuters) – Japan’s Nippon Steel is seeing support for its proposal to acquire U.S. Steel in the regions of the United States where steel mills are located, Nippon Steel’s President Tadashi Imai told reporters on Wednesday.

On Monday, a U.S. foreign investment committee referred the decision whether to approve or block the $15 billion deal to U.S. President Joe Biden, who has 15 days to decide.

Biden and his incoming successor, Donald Trump, have both expressed opposition to the purchase.