Trump administration, Nippon Steel seek eight-day pause in litigation to resolve merger concerns

Trump administration, Nippon Steel seek eight-day pause in litigation to resolve merger concerns

Trump lauded an 'agreement' between Nippon Steel and U.S. Steel at a political rally last Friday.

Nippon Steel NISTF and the Trump administration on Thursday asked a U.S. appeals court to extend a pause in their litigation for eight days, to give them more time to reach a deal allowing the Japanese firm to move forward with its $14.9 billion bid for U.S. Steel.

The court is likely to approve an extension of the pause, first granted on April 7 when U.S. President Donald Trump ordered a second national security review of the proposed tie-up. That pause was set to expire on June 5.

“A continued abeyance is warranted given ... the ongoing efforts to reach a resolution that would fully resol