EU Approves Nippon Steel's $14.9 Billion Acquisition of U.S. Steel

May 6, 2024, 01:10 PM

The European Commission has approved Nippon Steel's acquisition of U.S. Steel for $14.9 billion. The deal, which grants Nippon Steel sole control of the U.S. company, was cleared despite political opposition in the United States, including from President Biden. This acquisition does not raise competition concerns according to the European Commission.