TOKYO (Reuters) – Japan’s Nippon Metal stated on Thursday it had prolonged the deadline for closing its $15 billion takeover of U.S. Metal, expressing confidence that the acquisition will defend and develop the U.S. firm.
The estimated time limit has been revised to Q1 2025 from Q3 or This fall 2024 beforehand.
On Monday, a US international funding committee referred the choice on whether or not to approve or block the deal to US President Joe Biden, who has 15 days to determine.
Each Biden and his new successor, Donald Trump, have expressed opposition to the acquisition.
“Nippon Metal hopes that the President will use this time to make a good and factual evaluation of the acquisition. We stay assured that the acquisition will defend and develop US Metal,” Nippon Metal stated Thursday.
He added that the U.S. Justice Division’s antitrust division’s assessment course of was additionally underway, with out specifying when it’d finish.
(Reporting by Rocky Swift and Katya Golubkova; modifying by Himani Sarkar and Muralikumar Anantharaman)
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