By Kosaku Narioka
Nippon Steel Chief Operating Officer Tadashi Imai said Tuesday that the company will discuss its planned acquisition of U.S. Steel with U.S. government officials, after President Joe Biden blocked the deal in January.
Earlier this month, President Trump said he supported what he described as an emerging agreement that would allow Nippon Steel to invest in--but not fully own--U.S. Steel, creating a path for the Japanese company to play a larger role in the American steel market.
Imai said large capital expenditures would be possible only if it could invest in equity.
"It's time to start talking with the U.S. government to see what could be done so that President can agree to this," Imai said. The existing merger agreement would be a starting point of discussions, he said.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
February 25, 2025 05:24 ET (10:24 GMT)
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