Nippon Steel shares climb 5% after Trump offers support for U.S. Steel deal
ReutersMay 26, 2025 1:40 AM
TOKYO, May 26 (Reuters) - Nippon Steel 5401.T shares rallied at the start of Monday trade in Tokyo after U.S. President Donald Trump expressed support for the company's $14.9 billion bid for U.S. Steel X.N.
Shares of Nippon, the world's fourth-largest steelmaker, gained 5% to 3,025 yen early morning in Tokyo after being untraded with a glut of buy orders earlier in the day. Nippon shares were the biggest percentage gainer on Tokyo's benchmark Nikkei 225 index .N225.
On Friday, shares of U.S. Steel soared 21% as investors interpreted Trump's post on Truth Social to mean Nippon Steel had received his approval for its long-planned takeover, the last major hurdle for the deal.
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