Nippon Steel and the US government are in active discussions regarding the Japanese company's proposed acquisition of US Steel (X), Reuters reported Monday, citing Nippon Steel President Tadashi Imai.
A mutual understanding is developing that the deal would strengthen the steel industry in the US, Imai reportedly said.
The parties will continue negotiations, with the goal of striking a deal on things like conditions for equity purchase and capital spending, Reuters reported, citing Imai.
US Steel and Nippon did not immediately reply to MT Newswires' request for comment.
US Steel shares were up 1.2% in recent premarket activity Monday.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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