A U.S. Appeals court on Friday extended a pause in litigation between Nippon Steel and the Trump administration and gave the parties until next Friday to provide updates related to the case over the Japanese steelmaker's $14.

The parties until next Friday to provide updates related to the case over the Japanese steelmaker's $14.9 billion bid for US Steel.

WASHINGTON (Reuters) -- Nippon Steel and the Trump administration on Thursday asked a U.S. appeals court to extend a pause in their litigation for eight days to give them more time to reach a deal allowing the Japanese company to buy U.S. Steel for $14.9 billion.

Shares of U.S. Steel dipped after a Nippon Steel executive told the Japanese Nikkei newspaper that its planned takeover of the company required "a degree of management freedom" to go ahead, even as sources told Reuters a deal with the U.