Nippon Steel, one of Japan’s largest steelmakers, is reportedly on the verge of closing a massive $15 billion deal. The proposed agreement, which would see Nippon acquire US-based company AK Steel, has been stalled due to the ongoing presidency of Donald Trump.
The deal was first announced in 2017 but negotiations have been delayed multiple times as Trump’s administration has changed hands. With Trump set to return to the White House in January, Nippon is now pushing to finalize the agreement before his departure.
Industry experts believe that a successful close would not only boost Nippon’s profits but also provide significant benefits to AK Steel’s shareholders. However, concerns remain about the potential impact of US trade policies on the global steel industry.
Source: https://www.ft.com/content/d46d23c8-b3e6-4e82-8fba-92e5dbb87520