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Nippon Steel (OTCPK:NISTF) and US Steel (NYSE:X) made the required HSR filings late last month and filed with the Committee on Foreign Investment in the US this week, according to a Dealreporter item on Friday, which cited people familiar with the matter.
US Steel (X) and Nippon Steel (OTCPK:NISTF) had said they would file for HSR for the more than $14 billion deal by Jan. 30. The deal also needs approvals from the European Union, Mexico, Slovakia, Turkey, the UK, Canada, and Serbia.
The report comes as some investors are concerned that the transaction may take long to be approved due to the national security review of the deal as well as strong opposition from the United Steel Workers union and some politicians. Nippon and US Steel (X) have said the deal can close in Q2 or Q3.
Last month, there were reports that the Biden administration was preparing to
probe the US Steel (X) sale. A CFIUS review is unlikely to be completed until late this year or may go into next year.
US Steel (X) fell 2.4% on Wednesday after former President Donald Trump said he would block the company’s sale to Nippon Steel (OTCPK:NISTF) if he were president.
“I would block it instantaneously. Absolutely,” Trump told reporters, according to Bloomberg.
