U.S. President Donald Trump said Sunday that Nippon Steel cannot have a majority stake in U.S. Steel, days after he said following a meeting with Prime Minister Shigeru Ishiba that the Japanese steelmaker is now considering investing in U.S. Steel instead of purchasing it outright.
Ishiba presented a revised plan over Nippon Steel's bid to acquire U.S. Steel during his summit with Trump on Friday, sources said.
Although details are not known, the revised plan is believed to include a substantial increase in Nippon Steel's investment in U.S. Steel from the $2.7 billion pledged so far by the Japanese company.
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