U.S. President Donald Trump said Nippon Steel's $14.9 billion bid for U.S. Steel would take the form of an investment instead of a purchase on Friday, even as two sources familiar with the matter said the Japanese steel company had not withdrawn its bid.

President Donald Trump met United States Steel (X) CEO David Burritt at the White House on Thursday as Japan’s Nippon Steel (NISTF) tries to salvage a deal with the U.S. company. Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.

President Donald Trump has said Japan's Nippon Steel will drop its $14.9bn (£12bn) bid to acquire US Steel. Speaking alongside Japanese Prime Minister Shigeru Ishiba at the White House, Trump said Nippon would instead "invest heavily" in the company without taking a majority stake.