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 on Thursday said it was revising its expectations for the closing of the U.S. Steel deal from the end of 2024 until the first quarter of 2025, citing the reviews that are still ongoing.

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.

U.S. regulators failed to agree on whether to allow Nippon Steel's $14.9 billion purchase of U.S. Steel, passing the decision to President Biden.

Nippon Steel’s $15 billion bid to buy U.S. Steel has been referred to President Joe Biden after a government panel could not decide whether it should go forward.

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.

Nippon Steel's $15 billion bid for U.S. Steel has been referred to U.S. President Joe Biden, a White House spokesman said, giving the president 15 days to decide on a tie up he has previously said he opposes.

Last year, Nippon reached an agreement to purchase U.S. Steel. CEO David B. Burritt said that the purchase would make the steel industry stronger. But others have raised concerns about about security and allowing China, who has the world's second-largest economy after the U.S., to become economically powerful.

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.