U.S. Steel Stock Jumps as US Extends Deadline for Nippon Steel to Axe Takeover

KEY TAKEAWAYS

• U.S. Steel shares are jumping in premarket trading Monday after the U.S. government extended until June from next month a deadline for Nippon Steel to abandon its planned $14.1 billion acquisition of the American steelmaker.
• The deadline has been extended to June 18 from next month, the two companies said in a joint statement.
• President Biden had blocked the sale of the iconic American company to the Japanese firm on national security grounds earlier this month.