Japan Minister Says It’s Inappropriate for Government to Block US Steel Deal

Japan’s Digital Transformation Minister Kono Taro pushed back against a possible US move to block Nippon Steel Corp.’s $14.1 billion takeover of United States Steel Corp., describing government intervention in the case as inappropriate.

“I think they’re looking for labor union votes ahead of the US presidential race,” said Kono, himself a leading candidate in an election later this month to decide Japan’s leader. “But I hope the US won’t distort the markets for reasons like this.”