According to a Bloomberg News report, Takahiro Mori, the vice chairman and key negotiator for Nippon Steel 5401.T in the proposed acquisition of U.S. Steel X.N, will travel to Pittsburgh, Pennsylvania next week to meet with local staff and elected officials.
In December, Nippon Steel offered nearly $15 billion to take over U.S. Steel, drawing resistance from both President Joe Biden and former President Donald Trump, as well as the United Steelworkers (USW) union.
To win support from the USW, Nippon Steel has pledged to move its U.S. headquarters to Pittsburgh, where U.S. Steel is based, and has offered commitments on job security and additional investments if the deal goes through.
Neither Nippon Steel nor U.S. Steel immediately responded to Reuters’ requests for comment.
The trip to Pittsburgh by Nippon Steel’s key negotiator suggests the company is actively engaging with local stakeholders to address concerns and gain support for the proposed acquisition. The deal has faced resistance from political leaders and the union, who are likely concerned about the potential impact on jobs and the local steel industry.
Nippon Steel’s willingness to relocate its U.S. headquarters and make commitments on jobs and investments indicates the company’s efforts to address these concerns and secure the necessary approvals for the acquisition.