The Japanese company also pledged to sell its stake in a joint venture with European steelmaker ArcelorMittal for $1 to alleviate antitrust concerns. However, despite these moves, U.S. Steel has warned that failure to secure the deal could lead to substantial job losses and financial instability for the company.
Will Another Buyer Step In?
While Trump’s pledge to block the deal looms large, it remains uncertain whether an alternative buyer will emerge. Rival steelmaker Cleveland-Cliffs had previously attempted to purchase U.S. Steel, only for Nippon to outbid them. Following Nippon’s victory, tensions between the two companies escalated, culminating in a public dispute in April when Cleveland-Cliffs executives declared the acquisition “dead.”
As the battle for U.S. Steel’s future rages on, it remains to be seen whether the Trump administration will block the deal entirely or allow Nippon to proceed with additional compromises. For now, U.S. Steel, Nippon Steel, and their allies continue to make their case, with the fate of the $14.9 billion acquisition hanging in the balance.
