The merger is undergoing review by the U.S. Department of Justice (DOJ) and the Committee on Foreign Investment in the United States (CFIUS). Antitrust experts have warned that political pressure could complicate the DOJ’s evaluation, prolonging the regulatory process.
Stephen Calkins, a former FTC general counsel, commented, “The complaints about the deal that I’ve encountered are political, labor, and national security,” emphasizing that these concerns lie outside the typical scope of antitrust regulation.
Nippon’s Commitment to U.S. Steel
Despite regulatory uncertainty, Nippon remains optimistic about the merger, which is expected to close in the second half of 2024. Takahiro Mori, Nippon’s vice chair, reiterated the company’s admiration for U.S. Steel and its commitment to maintaining its status as a leading American steelmaker.
The $1.3 billion pledge is incremental to Nippon’s previous $1.4 billion capital commitment, which will cover ongoing maintenance and capital investments beyond 2026.
