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,

The two companies are in talks with President Donald Trump, with Nippon offering to more than double investment in U.S. 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.

Nippon Steel may invest $7B in U.S. Steel's plants, exceeding initial plans. Talks with Trump administration could revive a blocked merger deal.

Nippon Steel (OTCPK:NPSCY) reportedly met with White House officials and offered billions more in investments into outdated Rust Belt facilities, as the Japanese company seeks to salvage its $14B takeover of U.