Nippon Steel on Thursday delayed the closing date for its proposed $14.9 billion purchase of U.S. Steel, as it waits to learn if President Biden will block the deal on national security grounds. Why it matters: The Japanese steelmaker is trying to play nice with the White House,

Nippon Steel on Thursday said it was revising its expectations for the closing of the U.S. Steel deal from the end of 2024 until the first quarter of 2025, citing the reviews that are still ongoing.

Nippon Steel's purchase of U.S. Steel, worth $14.9 billion, has been postponed to 2025 due to opposition from unions and politicians. President Biden is evaluating the deal, which faces scrutiny from the Justice Department.