Trump announces US Steel partnership with Nippon Steel amid takeover speculation
The $14.9 billion acquisition, first announced in December 2023, faced regulatory hurdles, eventually leading to its blocking by US President Joe Biden just days before leaving office in January 2025.
On May 23, US President Donald Trump announced a partnership between US Steel and Nippon Steel without explicitly endorsing the previously announced takeover of the US-based steelmaker by the Japanese rival.
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