US Steel says Nippon Steel deal expected to close later this year

TOKYO: US Steel Corp (X.N), opens new tab said in a regulatory filing on Friday that the acquisition by Nippon Steel (5401.T), opens new tab is expected to close later this year.

The filing with exchanges comes at a time when the Japanese firm's $14.9-billion deal to buy the iconic 122-year-old U.S. steelmaker faces heightened scrutiny due to national security concerns.

US President Joe Biden on Thursday expressed explicit opposition to the deal and said US Steel must remain a domestically owned American firm.

Cleveland-Cliffs (CLF.N), opens new tab CEO Lourenco Goncalves said on Thursday he would consider another bid for US Steel likely worth no more than $30 per share if the Nippon Steel deal falls apart.