U.S. Steel Corporation and Nippon Steel Corporation Secure Non-U.S. Regulatory Approvals Amid Supplier Revenue Declines’
PITTSBURGH - In an important development for the steel industry, United States Steel Corporation (NYSE: X) (U.S. Steel) and Nippon Steel Corporation (TSE: 5401) (Nippon Steel) have jointly announced the receipt of all necessary regulatory approvals outside of the United States for their proposed transaction. The approvals come from the Directorate-General for Competition of the European Commission, adhering to both the EU Merger Regulation and the Foreign Subsidies Regulation.
This significant milestone represents a critical step forward in the strategic partnership between the two industrial giants, which aims to further bolster competitiveness and market presence in the global steel industry. The meticulous review by the Directorate-General for Competition underscores the importance of compliance with stringent international regulatory norms and confirms the transaction’s adherence to competition laws outside of the U.S.
While the regulatory approvals make
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