Nippon Steel

US foreign investment panel split on Nippon-US Steel deal, say reports

CFIUS, a powerful committee charged with reviewing foreign investments in US firms for national security risks, has until Dec. 22 to make a decision on whether to approve, block or extend the timeline

Review of Nippon partnership ongoing as US Steel shares tumble, says US

statement comes after shares of US Steel tumbled more than 10 per cent on Tuesday afternoon following a Bloomberg report suggesting the deal would be killed in short order

Wet blanket on further investment if imports not curbed: AM/NS India CEO

Steel flat product plants are undergoing a massive margin squeeze; the results speak for themselves

Trump's easing of regulations to trigger Japan outbound M&A: Citi executive

Trump presidency will also spark business reorganisations, which would swell the number of acquisition targets for Japanese firms, Citi Japan Vice Chairman Masuo Fukuda said

Trump pledges to block purchase of US steel by Japanese steel making firm

President-elect Donald Trump is underscoring his intention to block the purchase of US Steel by Japanese steelmaker Nippon Steel Corp, and he's pledging to use tax incentives and tariffs to strengthen the iconic American steelmaker. Trump had vowed early in the presidential campaign that he would instantaneously block the deal, and he reiterated that sentiment in a post on his Truth Social platform on Monday night. I am totally against the once great and powerful US Steel being bought by a foreign company and will use tax incentives and tariffs to make US Steel Strong and Great Again, and it will happen FAST! he wrote. As President," he continued, "I will block this deal from happening. Buyer Beware!!! President Joe Biden, like Trump, also opposes Nippon Steel's purchase of Pittsburgh-based US Steel. Biden's White House in September said that it had yet to see a report from the secretive Committee on Foreign Investment in the United States, which was reviewing the transaction for .

Donald Trump reiterates opposition to Nippon Steel's takeover of US Steel

Japanese PM Shigeru Ishiba wrote to Biden, who has referred the deal to a government panel that reviews foreign investments for national security risks, asking him to approve the transaction

US Commerce Dept raises import tariff for Nippon Steel after review

The Commerce Department imposed a dumping margin of 29 per cent on Nippon Steel for selling hot-rolled steel in the US

Trump promised to kill US steel deal to Nippon Steel; what will happen now?

The president-elect remains mum on the deal just as a top Nippon Steel executive readies a trip to Pittsburgh to persuade rank-and-file union members and politicians

ArcelorMittal net income falls 69% to $287 mn in September quarter

ArcelorMittal, which also has a presence in India, on Thursday posted a 69 per cent fall in net income to USD 287 million during the third quarter, mainly on account of a decline in steel shipments. Luxembourg-based ArcelorMittal follows the January-December calendar as the financial year. In July-September 2023, it clocked USD 929 million "net income attributable to equity holders of the parent", the company said in a statement. The company recorded a net income of USD 504 million in the second quarter of 2024, the statement said. Globally, the medium- to long-term outlook for steel is positive, and ArcelorMittal will continue to harness its unique geographic presence and strong research and development capability to meet stakeholders' need, its Chief Executive Officer Aditya Mittal said. Demand is expected to be stronger in the second half of this year compared with 2023, and inventory levels are low, indicating that re-stocking will occur when real demand recovers. The increase

What Trump's 2024 presidential election win means for Asian companies

The U.S. government has yet to approve Nippon Steel's $14.9 billion bid for U.S. Steel, a politically sensitive deal due to opposition from the U.S. firm's labour union

Nippon Steel to sell Calvert JV to ArcelorMittal if US Steel deal completed

authorities' review of the U.S. Steel deal, a senior company official said

US Steel says arbitration board in favor of Nippon Steel's $14.9 bn buyout

Nippon Steel had paid a hefty premium to clinch the deal for US Steel on a bet that it could benefit from US President Joe Biden's infrastructure spending bil

Nippon Steel's Mori asks United Steelworkers leadership to come to table

The companies plan to close the deal by the end of December, pending regulatory approvals

Nippon Steel to sell $211 mn in assets to manage debt amid US Steel deal

The Japanese company's debt-to-equity ratio is expected to increase to 0.9 from 0.5 as a result of the US Steel deal which both companies target to close by the end of December

AM/NS India invests Rs 1K crore for new production line in Gujarat

AM/NS India mentioned that it is already in advanced discussions to supply Magnelis to key players in India's renewable energy and infrastructure sectors

Joe Biden urged to reconsider $14 bn US Steel takeover by Nippon Steel

US Steel closed up 7 per cent in New York on Wednesday after recording the biggest intraday increase since Dec 18 earlier

Nippon Steel's US setback a wake-up for Japan Inc's foreign investments

Some advisers said that the Nippon Steel deal was complicated by the US presidential election, with many Republican and Democratic lawmakers voicing opposition to it

President Biden close to blocking Nippon Steel's acquisition of US Steel

US Steel had earlier warned that a failure to conclude a deal with Japan-based Nippon would put thousands of US union jobs at risk

President elections put Nippon Steel's $15 bn takeover of US Steel in peril

On December 18, the companies announced that Nippon Steel had agreed to acquire US Steel for $14.9 billion, a 40 per cent premium to US Steel's share price at the time

Trump pledges to put an end to pollution rule, Nippon-US steel merger

He did not elaborate on how he would accomplish that goal beyond advocating broad measures