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Written by John Refior on 2025-01-04 at 04:56

"U.S. President Joe Biden blocked Nippon Steel's proposed $14.9 billion purchase of U.S. Steel on Friday, citing national security concerns..

"U.S. Steel once controlled most of the country's steel output but is now the third-largest U.S. steelmaker and 24th biggest worldwide.

"The Committee on Foreign Investment in the United States spent months reviewing the deal for national security risks but referred the decision to Biden in December, after failing to reach consensus."

https://www.reuters.com/markets/deals/biden-reveal-decision-us-steel-acquisition-early-friday-cbs-news-reports-2025-01-03/

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[#]politics #biden #ussteel #steel

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