KEY TAKEAWAYS U.S. Steel shares are jumping in premarket trading Friday on a report that Nippon Steel is offering to spend as much as $7 billion to upgrade the American company’s aging Rust Belt facilities in a bid to obtain the Trump administration's approval of their $14 billion merger.

Nippon Steel and U.S. Steel are in active talks about a deal that would preserve their $14 billion merger and secure billions more in investments from the Japanese steelmaker into Rust Belt facilities,

Nippon Steel and U.S. Steel are reportedly in active discussions to revive their $14.9 billion merger deal, with the Japanese steel giant now proposing a significantly larger investment in U.S. operations.