The controversial $14.9 billion deal to sell U.S. Steel to Japan-based Nippon Steel Corp. has been delayed while the Department of Justice (DOJ) reviews the acquisition, according to a May 3 statement from Nippon.
Both Nippon and U.S. Steel received DOJ requests for more documents in connection with an antitrust review of the merger. After that request, Nippon moved the closing date back roughly three months, from the second or third quarter of 2024 to the third or fourth quarter of 2024. With so many details in the transaction, the closing date is, and has been, an estimated time frame.
