Nippon Steel intends to invest $14 billion in United States Steel's (X) operations, including up to $4 billion in a new steel mill, if President Donald Trump approves Nippon's bid for the company, Reuters reported Monday, citing a document and two people familiar with the matter.
US Steel and Nippon Steel did not immediately reply to requests for comment from MT Newswires.
X shares were down 1.4% in recent trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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