Reuters: Nippon Steel ups pledge to $14 bil. to invest in US Steel

Reuters reported on Monday that Nippon Steel is planning to pump 14 billion dollars into US Steel, if the Trump administration green lights its bid for the company.

The Japanese steelmaker’s pledge is a jump from its most recent offer of 2.7 billion dollars. The report said the latest plan includes investing up to 4 billion dollars in a new mill.

The Biden administration blocked the merger in January, citing national security concerns, and US President Donald Trump continued to put the brakes on it.

He ordered the Committee on Foreign Investment to do a new review. It will be finished by Wednesday, and then Trump will have about two weeks to decide on the fate of the deal.