Nippon Steel Vows to Seal US Deal Despite Biden’s Resistance (2)

Nippon Steel Corp.said it’s determined to complete its $14.1 billion acquisition of United States Steel Corp., even after President Joe Biden stated the company should stay in US hands.

In the wake of Biden’s comments, Japan’s largest steelmaker repeated its previous offer of an additional $1.4 billion in investment and a promise of no layoffs or plant closures until at least September 2026, according to a statement on Friday.

While Biden stopped short of saying he would block the takeover, his statement on Thursday marked a rare presidential intervention in a transaction that outside an election year would have ...