Nippon Steel has hired former U.S. Secretary of State Mike Pompeo to help finalize a proposed purchase of United States Steel, a deal opposed by both Donald Trump and U.S. President Joe Biden.
Pompeo, who served as the top U.S. diplomat under Trump, will advise the Japanese company on the $14.1 billion purchase, according to people familiar with the matter who spoke on condition of anonymity to discuss the move. The fate of the deal is unclear as it undergoes a national security review and faces opposition from the United Steelworkers union.
Nippon Steel confirmed the move in a written statement, praising Pompeo’s track record. Pompeo said the U.S. should expand its manufacturing base by working with allies, in a statement also provided by the company.
