Nippon Steel and the Trump administration on Thursday asked a U.S. appeals court to extend a pause in their litigation for eight days, to give them more time to reach a deal allowing the Japanese firm to move forward with its $14.9 billion bid for U.S. Steel.
The court is likely to approve an extension of the pause, first granted on April 7 when President Donald Trump ordered a second national security review of the proposed tie-up. That pause was set to expire on June 5.
“A continued abeyance is warranted given … the ongoing efforts to reach a resolution that would fully resolve petitioners’ claims,” the companies and the government said in their filing.
U.S. President Donald Trump
on Friday lauded
an “agreement” between Nippon Steel and U.S. Steel at a political rally but stopped short of approving the companies’ diplomatically sensitive merger. (Reporting by Alexandra Alper; Editing by Leslie Adler and Stephen Coates)
