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Tokyo – Japan’s Nippon Steel hopes to close its $15 billion deal to buy US Steel by year-end before Republican Donald Trump retakes the White House in January, a senior executive said, as the acquisition is core to its future growth.
“Now that the US election is over and we are in a position to have a proper discussion, there is no reason to postpone the review process any longer,” Mori added. With US Steel, Nippon Steel aims to raise its global steel production capacity to 85 million metric tons per year from 65 million tons now, and the asset is core to its goal of having over 100 million tons of production capacity in the long-term.
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