Tag: $Nippon Steel

Japan’s Nippon Steel, said on Wednesday it would raise 800 billion yen ($5.6 billion) through two subordinated loans to partially fund its recent $14.9 billion acquisition of U.S. Steel and refinance previous loans.

U.S. Steel shares jumped on Monday after President Donald Trump approved its controversial merger with Japan’s Nippon Steel.

Donald Trump has broadly endorsed Nippon Steel’s $15bn deal to buy US Steel, in an apparent reversal of his opposition to a cross-border transaction that was blocked by Joe Biden on national security grounds.

Shares of U.S. Steel (X.N),  plunged 11% in premarket trading on Thursday after U.S. President Donald Trump – in a contradiction from previous White House actions – said on Wednesday that he does not want the steel producer to go to Japan, suggesting he does not support Nippon Steel’s (5401.T),  $14 billion bid.

Nippon Steel and U.S. Steel are in active talks about a deal that would preserve their $14 billion merger and secure billions more in investments from the Japanese steelmaker into Rust Belt facilities, Semafor reported on Thursday.

Nippon Steel Japan’s biggest steelmaker, said on Thursday its proposed acquisition of U.S. Steel fits with President Donald Trump’s goal of a stronger United States as the leaders of the two allies prepared to meet.

Nippon Steel is poised to expand its operations in the U.S. and India as it hunts for growth and protection from cheap Chinese exports after its bid for U.S. Steel was blocked by the White House, analysts say.

The lawsuits challenge President Joe Biden’s final significant act of his tenure, calling his decision to block the buyout of the American steel maker by Nippon Steel an “unlawful political influence.

U.S. President Joe Biden is poised to officially block Nippon Steel’s proposed $14.9-billion purchase of U.S. Steel a person familiar with the matter said on Friday, dealing a probably fatal blow to the contentious merger plan.

Nippon Steel’s $15 billion bid for U.S. Steel has been referred to U.S. President Joe Biden, a White House spokesman said, giving the president 15 days to decide on a tie up he has previously said he opposes.

Shares of United States Steel fell early Tuesday after President-elect Donald Trump reiterated his opposition to a U.S. Steel buyout by Japanese steel maker Nippon Steel.

Nippon Steel’s proposed acquisition of U.S. Steel risks raising decarbonisation costs for Japan’s top steelmaker, an activist shareholder group said, urging the company to address the takeover’s impact on its climate goals.

Japan’s Nippon Steel  said on Monday it would buy U.S. Steel in a deal valued at $14.9 billion, helping it add significant capacity in a key market that is primed for a price hike.