Japan's Nippon Steel said on Thursday it has extended the closing date for its $14.9 billion purchase of U.S. Steel as U.S. President Joe Biden weighs whether to block a deal that has faced intense opposition since it was announced.

Japanese steel producer says it remains confident the acquisition “will protect and grow United States Steel.”

If anything, approving the deal would make the U.S. stronger. The merged company would form the world’s third-largest steelmaker, better able to take on China’s dominant producers.