Japanese Corp Says DOJ Requested a Delay on Purchase of U.S. Steel, Insists It Has Nothing to Do with 2024 Election

TOKYO (AP) — Nippon Steel said Friday it has postponed the expected closing of its $14.1 billion takeover of U.S. Steel by three months after the U.S. Department of Justice requested more documentation related to the deal.

Tokyo-based Nippon Steel Corp. said the deal, already approved by U.S. Steel’s shareholders, is still expected to go through.

“Nippon Steel will continue to fully cooperate with the examination of the relevant authorities,” it said in a statement.

The sale has drawn opposition from President Joe Biden’s administration on economic and national security grounds, and from former President Donald Trump, the likely Republican presidential candidate in November’s election. MORE