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.

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instead of a purchase on Friday, even as two sources familiar with the matter said the Japanese steel company had not withdrawn its bid.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 on Friday said Japan’s Nippon Steel agreed to drop its nearly $15 billion bid to acquire U.S. Steel and will “heavily” invest in the company instead, ending a yearlong deal to merge the two companies after bipartisan opposition.