The two steelmakers said last month they have received all regulatory approvals outside of the United States for their proposed $14.9-billion merger, a step toward completing the controversial deal
Vice Chairman Takahiro Mori’s visit so soon after a May 20-26 trip highlights the efforts Nippon Steel is taking to close the purchase amid growing regulatory scrutiny and political opposition. That includes resistance from President Joe Biden, who wants U.S. Steel to remain domestically owned, and objections from the powerful United Steelworkers union over fears of job losses.
Mori said in a May 30 interview he will return to the U.S. this week for more talks, including in Washington D.C. This follows his May 20-26 trip to meet business and political leaders, including four U.S. senators, and community leaders in Pennsylvania, where U.S. Steel is based. A manufacturing plant in Calvert, Alabama, jointly owned by Nippon Steel and Luxemburg-based ArcelorMittal, is a focus of antitrust concerns by U.S. authorities, Politico reported in March.
Standard became profitable in 2013 after that deal and has continued to be through technology transfers and the dispatch of highly qualified engineers from Japan, he said. “The USW says our offers are not good enough, but it is not clear what is not good enough,” Mori said, citing the need for a face-to-face meeting. “We are always open to talk.”
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