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(Update) No Change to U.S. Steel Buyout Plan: Nippon Steel Veep

(Update) No Change to U.S. Steel Buyout Plan: Nippon Steel Veep

   Tokyo, Feb. 7 (Jiji Press)--Nippon Steel Corp. Executive Vice President Takahiro Mori said Wednesday that there are no changes to the Tokyo-based steelmaker's plan to acquire United States Steel Corp. by September.
   Nippon Steel has already started talks with the United Steelworkers labor union over the plan to make U.S. Steel a wholly owned subsidiary, Mori said at a press briefing on the company's consolidated earnings report for April-December 2023.
   "I think it's possible to find common ground," he said, confident that the acquisition will be successful.
   Mori said that it is within expectations for the acquisition deal to become a political issue in the United States ahead of the country's presidential election in November. He emphasized that the purchase will benefit both Japan and the United States, saying, "it cannot be blocked just because of political considerations."
   "The situation will be affected more and more as the election approaches, so it's best to resolve the issue quickly," Mori said, signaling that he will focus on gaining the understanding of the United Steelworkers, which is key to a successful buyout.

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AFP-JIJI PRESS NEWS JOURNAL


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