US Steel CEO on Nippon Steel

US Steel CEO David Burritt says he is confident that the deal to sell his company to the Japanese firm Nippon Steel will “close on its merits.” Burritt made the remarks on Tuesday in an address to business leaders at the Detroit Economic Club.

US Steel agreed in December to a takeover valued at about 15 billion dollars. However, the company is based in Pennsylvania, a swing state that could prove crucial in the presidential election in November. Democratic and Republican leaders have opposed the deal, as have leaders of the United Steelworkers Union. The US Committee on Foreign Investment is also reviewing how a takeover by a Japanese firm might affect national security.