TOKYO — Nippon Steel is betting that a promise of huge investments to turn around struggling U.S. Steel will convince the Trump administration to greenlight the long-delayed acquisition as the Japanese steelmaker makes a final push for approval.
“If [U.S. Steel] had been under Nippon Steel’s umbrella, they wouldn’t be in the situation they’re in currently,” Vice Chairman Takahiro Mori told Nikkei. The U.S. company posted the second consecutive quarterly net loss in the Janu-March period.
