TOKYO (Reuters) – Japan’s Nippon Steel on Monday declined to comment on U.S. President Donald Trump’s statement that no one can have a majority stake in U.S. Steel.
Trump made the statement on Sunday when speaking to reporters on Air Force One.
On Friday, Trump said Nippon Steel’s $14.9 billion bid for U.S. Steel would take the form of an investment instead of a purchase, even as two sources familiar with the matter said the Japanese steel company had not withdrawn its bid.
It was unclear if the investment referred to a new deal structure and what the details of the transaction would be, but Trump said on Friday he would meet with the head of Nippon Steel this week and he would be involved “to mediate and arbitrate.”
(Reporting by Yuka Obayashi; Editing by Lincoln Feast.)
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