The estimated date for Nippon Steel's proposed $15 billion purchase of US Steel has been revised to the first quarter of 2025, the company shared on Wednesday.
The closure was originally expected to take place in the third or fourth quarter of the 2024 calendar year. In the update, the Japanese steel giant also expressed hope that United States President Joe Biden "will use this time to conduct a fair and fact-based evaluation of the acquisition."
Biden has under a month to decide whether concerns about national security implications may outweigh the deal, as President-elect Donald Trump has already vowed to block the takeover.