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Nippon Steel’s vice chairman plans to return to the United States this week for more talks over the proposed acquisition of U.S. Steel and would study selling some assets if necessary for the deal to go through.
The two steelmakers said last month that they have received all regulatory approvals outside of the United States for their proposed $14.9 billion merger, a step forward towards the completion of the controversial deal. “If the U.S. authorities tell me: you have to do this otherwise this deal can not be admitted, in that case we should study this seriously,” he said.
During the May visit, Mori said he pointed to the 2011 takeover of U.S. company Standard Steel by Sumitomo Metal Industries, which is now part of Nippon Steel, as an example of what he hopes the U.S. Steel purchase could achieve. “The USW says our offers are not good enough, but it is not clear what is not good enough,” Mori said, citing the need for a face-to-face meeting. “We are always open to talk.”
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