Nippon Steel still wants to make United States Steel a wholly owned subsidiary despite repeated indications from U.S. and Japanese leaders that the takeover will not be happening, according to a report by TV Tokyo.
Citing unnamed sources, the station said late Thursday that the Japanese steelmaker is planning to inform the administration of U.S President Donald Trump of its intention to press on with the purchase as planned.
According to other media reports, Nippon Steel Vice Chairman Takahiro Mori is visiting the United States to lay the groundwork for talks with the Trump administration, and Nippon Steel Chairman and CEO Eiji Hashimoto may have a meeting with Trump next week.
Nippon Steel declined to comment on the TV Tokyo report or to confirm a meeting with Trump or the possible timing of it. The company has made no public comments about the acquisition for over a week, but has never wavered from its expressions of confidence in the transaction.
The $14.9 billion deal to acquire U.S. Steel appeared effectively dead after a meeting between Trump and Prime Minister Shigeru Ishiba last week.
During a news conference held to discuss the summit, Trump said Nippon Steel would invest in U.S. Steel instead of purchasing it. Days later, Ishiba said on Japanese television that U.S. Steel will remain American and Trump told reporters on Air Force One that no one would be allowed to take a majority stake in the iconic company.
Earlier this week, Japanese government officials mentioned that Nippon Steel would change its approach, providing more indications that the plan for a full acquisition might be scrapped.