Nippon Steel (NPSCY) and U.S. Steel (X) are on pace to finalize combination with the administration ahead of a deal deadline later this month, Joe Deaux and Josh Wingrove of Bloomberg report, citing people familiar with the matter. Talks on the deal between the companies and the U.S. government are ongoing and expected to reach a conclusion before a June 18 merger agreement deadline, sources told Bloomberg. The companies are still awaiting final terms, but talks with the Committee on Foreign Investment in the U.S. are progressing and poised to be finalized before the deal deadline, said the people. Shares of U.S. Steel are down 71c to $53.04 in afternoon trading.
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