(Update) Nippon Steel Not to Buy Majority Stake in U.S. Steel: Trump
Washington, Feb. 9 (Jiji Press)--U.S. President Donald Trump said Sunday that Japan's Nippon Steel Corp. will not acquire a majority stake in United States Steel Corp.
Trump made the comment while speaking to reporters aboard Air Force One, reiterating his stance that he would not allow the Japanese steelmaker to fully buy out U.S. Steel. He intends to meet with the head of the Japanese company soon.
Nippon Steel has proceeded with its takeover plan on the premise of making U.S. Steel a wholly owned subsidiary. Acquiring a partial stake would mean a drastic change in plans.
The U.S. president said at a joint press conference with Japanese Prime Minister Shigeru Ishiba following their summit meeting in Washington Friday that Nippon Steel agreed to invest heavily in U.S. Steel instead of owning it. Ishiba told a television program Sunday that U.S. Steel would remain a U.S. company, in line with Trump's demands.
According to informed sources, Tokyo presented a plan to significantly increase Nippon Steel's investments in U.S. Steel during the Ishiba-Trump summit.
(2025/02/10-11:13)
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