U.S. Steel-Nippon Steel Merger Receives All Non-U.S. Regulatory Approvals
(RTTNews) - United States Steel Corp. (X) and Nippon Steel Corp. announced Thursday that they have received all regulatory approvals outside of the United States related to the proposed transaction between U. S. Steel and Nippon Steel.
These approvals have been received from the Directorate-General for Competition of the European Commission (pursuant to the EU Merger Regulation and, separately, the Foreign Subsidies Regulation), the Mexican Federal Economic Competition Commission, the Serbian Competition Commission, the Ministry of Economy of Slovakia, the Turkish Competition Authority.
In addition, the United Kingdom Competition and Markets Authority confirmed that it had no further questions regarding the proposed transaction in response to the submission of a voluntary briefing paper.
U. S. Steel held a Special Meeting of Stockholders on April 12, 2024, with 71% of the outstanding shares of U. S. Steel common stock voting in favor of the proposed transaction, resulting in an overwhelming vote of approval of 99% of the shares represented at that meeting.
U. S. Steel and Nippon Steel currently expect that the transaction will be completed in the second half of 2024, subject to the fulfillment of the remaining, customary closing conditions, including the receipt of required U.S. regulatory approvals.
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