Takahiro Mori, the vice chairman of Nippon Steel 5401.T, plans to return to the United States next week again to discuss the Japanese firm’s proposed $15 billion acquisition of U.S. Steel X.N.
This will be Mori’s third trip to the U.S. in the past two months, highlighting the importance of the proposed takeover to the world’s fourth-largest steelmaker. Nippon Steel’s spokesperson confirmed the planned visit but declined to provide further details.
According to a source familiar with Mori’s travel plans, the executive will visit several states where U.S. Steel has operations and meet with local officials, community leaders, and workers. On his last trip, Mori met with U.S. Steel employees and community leaders to gain a better understanding of their views, and the company said he received a positive reaction.
The proposed acquisition of U.S. Steel has been backed by the target company’s management, but it faces resistance from the White House and the powerful United Steelworkers (USW) union. The deal is seen as crucial for Nippon Steel’s global expansion plans, as it would significantly boost the company’s production capacity and market share.
The upcoming visit by Mori underscores Nippon Steel’s efforts to address the concerns of various stakeholders and secure the necessary approvals for the acquisition. The company is likely to continue its engagement with local communities, workers, and government officials to navigate the regulatory and political challenges surrounding the deal.