Japan's Nippon Steel said on Thursday it has extended the closing period for its US$15 billion (about RM67 billion) purchase of US Steel to the first quarter next year, reported Reuters on Dec 26.

In the backdrop of the steel plant acquisition is Japanese automakers Honda and Nissan's proposed merger scheduled to be completed by Aug 2026.

On Monday, a US foreign investment committee referred the decision whether to approve or block the deal to US President Joe Biden, who has 15 days to decide.

Biden and his incoming successor, Donald Trump, have both expressed opposition to the purchase, but Nippon steel expressed confidence that the acquisition will protect and grow the American steel company.

"Nippon Steel hopes that the President will use this time to conduct a fair and fact-based evaluation of the acquisition. We remain confident that the acquisition will protect and grow US Steel," Nippon Steel said.

It added that the review process of the antitrust division of the U.S. Department of Justice was also underway, without specifying when it may end.

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