US Steel announces that it has received all non-US regulatory approvals for the Nippon transaction

A week after celebrating its DR-grade pellet project at Keetac, US Steel provided an update on its proposed agreement with Nippon Steel.

The company said it had obtained all non-U.S. regulatory approvals for the transaction.

These include: 1) European Commission Directorate-General for Competition 2) Mexican Federal Economic Competition Commission 3) Serbian Competition Commission 4) Slovak Ministry of Economy 5) Turkish Competition Authority.

In addition, the UK Competition and Markets Authority has confirmed that in response to the submission of the Voluntary Information Document there are no further questions regarding the proposed transaction.

The statement goes on to say that they still expect to complete the transaction in the second half of this year.

CEO Dave Burritt said during the DR event that he had not discussed the issue with President Biden.

Biden has stated that he believes US Steel should remain an all-American company.