According to the Finance and Economics APP, United States Steel (X.US) stated on Wednesday that the arbitration panel had ruled in support of Nippon Steel's $14.9 billion acquisition of the company, but the United Steelworkers union (USW) disagreed with the decision.

The arbitration panel, jointly selected by the company and the union, ruled that United States Steel has met all the requirements of the successor provisions of the Basic Labor Agreement (BLA) signed with USW.

However, the union stated that this decision did not change its opposition to the agreement.

In a statement, Nippon Steel said, "We remain focused on building a productive relationship with USW, including fulfilling our commitments, which go far beyond the current requirements of the existing BLA."

Since the signing in December last year, the agreement has faced political opposition. Both Democratic presidential candidate Harris and Republican presidential candidate Trump support United States Steel remaining American-owned.

Nippon Steel paid a high premium to acquire United States Steel, betting that it can benefit from the infrastructure spending bill of US President Biden.

Earlier this month, united states steel warned that failing to reach an agreement would put thousands of union jobs in the United States at risk, hinting at closing some steel plants, and possibly relocating its headquarters out of politically significant Pennsylvania.

Nippon Steel President Tadashi Imai said in an interview on Thursday that the Committee on Foreign Investment in the United States has extended its review of the agreement until the end of December, or after the U.S. presidential election on November 5.

Imai stated that the extension is not an overly optimistic reason, the company continues to seek dialogue with USW as it still plans to complete the trade before the end of December.