This adjustment follows a directive from the US Department of Justice, which has requested additional documents, thus extending the acquisition timeline from an initial April-September window to now between July and December.
On May 3, the company revealed that it had received a "second request" in April from US authorities for more documents necessary to finalize the $15 billion transaction. While the exact date of the request was not specified, a company spokesperson noted that such additional requirements had been anticipated.
The deal's conclusion might also align closely with the US presidential election in November, where it has encountered opposition from both Democratic and Republican candidates. President Joe Biden has vocally supported the idea of keeping American steel companies under American ownership and operation.
Despite these regulatory and political challenges, Nippon Steel remains optimistic about overcoming the hurdles, expressing confidence in obtaining a "fair and objective judgement" from US regulatory authorities regarding the acquisition.
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