Japan's Nippon Steel said on Thursday it has extended the closing period for its $15 billion purchase of U.S. Steel, expressing confidence that the acquisition will protect and grow the American company.

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.