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EU Antitrust Decision Expected for Nippon Steel’s US Steel Acquisition Next Month

 |  April 11, 2024

Nippon Steel Corporation’s significant $14.9 billion acquisition of US Steel Corporation awaits a pivotal decision from European Union antitrust regulators by May 17. As per a filing from the European Commission, approval from EU authorities is anticipated as a procedural step.

Initiated by Nippon Steel on April 9, the process is undergoing review by the European Commission under a streamlined procedure, typically utilized when competition concerns are minimal or when the market share of involved entities is marginal.

This simplified approach reflects the confidence of EU competition regulators in the acquisition’s adherence to antitrust regulations. Nippon Steel’s extensive presence in Europe, with manufacturing facilities in Sweden, Finland, and Britain, alongside an office in Germany, aligns with the EU’s evaluation criteria.

Despite optimism within the EU, Nippon Steel faces challenges with U.S. antitrust authorities concerning the acquisition, which was agreed upon in December.

While Nippon Steel’s European footprint is bolstered by U.S. Steel’s subsidiary in Slovakia, navigating U.S. regulatory frameworks presents distinct hurdles.

Source: WKZO