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Bond Market News
Nippon-US Steel Merger Talks May Get Delayed as Trump Administration Requests Extension
March 18, 2025
The Trump administration has filed a motion requesting an extension in the deadlines concerning the potential merger between Nippon Steel and US Steel. The US Department of Justice (DOJ) is evaluating whether the merger would violate antitrust laws. Both companies have been negotiating a deal that would create one of the world’s largest steel producers. However, the DOJ’s review process, which aims to ensure the deal does not harm competition in the steel industry, requires additional time for further assessment. Nippon Steel has been cooperating with the DOJ’s antitrust division, but it is unclear how the delay will impact the merger’s future. The delay is significant as it may influence the steel industry’s competitive landscape and has implications for other potential deals in the sector.
US Steel’s dollar bonds were trading stable with its 6.875% 2029s at 101.1, yielding 6.6%.
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