U.S. President Donald Trump said on Friday Japan's Nippon Steel will not buy U.S. Steel and would instead invest in the company, which would dramatically reshape the $15 billion merger bid that had been in negotiation for more than a year.

President Trump supports the Japanese company’s taking a stake in the American steel maker after the U.S. blocked a $14 billion takeover bid.

President Trump says Japan's Nippon Steel will invest new technology in U.S. Steel after President Biden blocked an acquisition last month. The Gary mayor said he's happy the chances for some sort of investment is still alive.