EU Approves Nippon Steel's Acquisition of U.S. Steel
Brussels, May 6 (Jiji Press)--The European Commission announced Monday that it has approved the acquisition of United States Steel Corp. by Nippon Steel Corp. of Japan.
The commission, the executive organ of the European Union, said that the planned deal "would not raise competition concerns given the companies' limited market positions."
The planned acquisition was approved by U.S. Steel shareholders last month.
But the United Steelworkers union opposes the deal.
U.S. President Joe Biden and former U.S. President Donald Trump, who are set to clash in the presidential election in November, are also cautious over the deal.
(2024/05/06-23:17)
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