Summary
- U.S. Steel Corp and Japan’s Nippon Steel have received regulatory approvals for their proposed $14.9 billion merger outside the U.S.
- The deal still needs approval in the U.S., facing opposition from President Joe Biden and the United Steelworkers union.
- Nippon Steel has pledged to honor agreements with U.S. Steel and move its U.S. headquarters to Pittsburgh.
- The companies expect the deal to be completed in the second half of the year.
