Nippon Steel and U.S. Steel Appeal to Biden Over $15 Billion Merger Block

Nippon Steel and U.S. Steel wrote to U.S. President Joe Biden about their planned $15 billion merger amid reports that he may block the deal. The letter, signed by chief executives of both companies, seeks to address the concerns raised. No immediate comments were available from U.S. Steel or the U.S. embassy in Japan.

Nippon Steel and U.S. Steel sent a letter to U.S. President Joe Biden on Sunday regarding their proposed $15 billion merger. This follows media reports suggesting that the administration might block the transaction, according to a spokesperson for the Japanese steelmaker.

The spokesperson did not share the specifics of the letter but confirmed that it was signed by Nippon Steel Chief Executive Eiji Hashimoto and U.S. Steel CEO David Burritt along with other top executives from both companies.

U.S. Steel did not immediately respond to a request for comment outside of U.S. business hours, and the U.S. embassy in Japan also declined to comment immediately.

(With inputs from agencies.)