Japan's Nippon Steel said on Thursday it has extended the closing date for its $14.9 billion purchase of U.S. Steel as U.S. President Joe Biden weighs whether to block a deal that has faced intense opposition since it was announced.

Japan's Nippon Steel said on Thursday it revised the closing date for its purchase of U.S. Steel, expressing confidence that the acquisition will protect and grow the American company. The estimated closing date was revised to the first quarter of 2025 from the third or fourth quarter of 2024 previously.

Nippon Steel's investment has the potential to extend the operational life of U.S. Steel plants bringing enhanced productivity, innovative practices and investment in research and development. New product lines could require expanded skillsets, leading to the creation of new jobs.

President Joe Biden has received some fresh political cover if he opts to allow the controversial takeover of U.S. Steel by Japan’s Nippon Steel.

A US government panel failed to reach a consensus on whether US Steel's acquisition by Nippon Steel threatens Washington's national security, shifting the decision to the White House, the Japanese company said late Monday.

Nippon Steel said Thursday it has extended the closing period for its $15 billion purchase of U.S. Steel, expressing confidence that the acquisition will protect and grow the American company. The estimated closing date was revised to the first quarter of 2025 from the third or fourth quarter of 2024 previously.

Nippon Steel on Thursday delayed the closing date for its proposed $14.9 billion purchase of U.S. Steel, as it waits to learn if President Biden will block the deal on national security grounds. Why it matters: The Japanese steelmaker is trying to play nice with the White House,

Nippon Steel has extended the closing date for its $15 billion acquisition of U.S. Steel (X), as Japan’s biggest steel firm faces opposition from both the current and next president of the U.S.