U.S. President Donald Trump said Nippon Steel's $14.9 billion bid for U.S. Steel would take the form of an investment instead of a purchase on Friday, even as two sources familiar with the matter said the Japanese steel company had not withdrawn its bid.

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 Trump said Friday that Japan's Nippon Steel will drop its $14.1 billion bid to acquire U.S. Steel and instead "invest heavily" in the company.