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Biden close to blocking Nippon Steel deal to buy US Steel
The Biden administration is close to announcing it will block Nippon Steel’s acquisition of US Steel, two sources familiar with the situation said on Wednesday, amid growing bipartisan political opposition to the $14.9 billion deal. The panel that is reviewing the proposed merger for national security reasons has not sent its recommendation to the president, the White House said. The Washington Post first reported the thinking of the administration of President Joe Biden. Shares of US Steel fell 19%. The Treasury Department, which is overseeing the national security approval process for the deal, declined to ... (full story)
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- Posted: Sep 4, 2024 7:06pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 106
