Nippon Steel (OTCPK:NPSCY) extended the closing date for its planned more than $14 billion purchase of US Steel (NYSE:X) to Q1 as it awaits a decision from President Joe Biden on the deal. The Japanese steelmaker now sees a Q1 close after earlier forecasting a Q3 or Q4 completion,

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.

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 announced it has extended the closing date for its $14.9 billion acquisition of U.S. Steel to the first quarter of 2025, as President Joe Biden considers blocking the deal. The merger has faced opposition from the United Steelworkers union and politicians,