TOKYO — Shares of Nippon Steel softened Monday before moderately recovering as investors welcomed the clearance of fundraising issues in the company’s proposed $15 billion buyout of U.S. Steel, a deal that was blocked late last week by U.S. President Joe Biden.
Nippon Steel stocks temporarily traded at 3,108 yen around 9:20 a.m. after the Tokyo Stock Exchange opened for the first time this year. The price was 2.3% lower than its closing price on Dec. 30.
