TOKYO (NEWSnet/AP) — Nippon Steel said Friday it has postponed the expected closing of a $14.1 billion takeover of U.S. Steel by three months.

The announcement came after U.S. Department of Justice requested more documentation related to the deal.

Tokyo-based Nippon Steel Corp. said the deal, already approved by U.S. Steel’s shareholders, still is expected to occur.

“Nippon Steel will continue to fully cooperate with the examination of the relevant authorities,” the company said.

The deal was expected to close by September 2024. This decision pushes it to December.

More than 98% of the Pittsburgh-based U.S. Steel Corp. shares voted at a special investor meeting in April approved the takeover. Nippon Steel has said it has prepared adequate financing to go through with the deal.

The merger plan was announced in December 2023. United Steelworkers union has opposed the acquisition.

Follow NEWSnet on Facebook and X platform to get our headlines in your social feeds.

Copyright 2024 NEWSnet and The Associated Press. All rights reserved.