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 Donald Trump on Friday suggested that Nippon Steel would no longer buy U.S. Steel as planned, but the Japanese company would instead invest in the symbolically important American business. The U.