Reported 1 day ago
Nippon Steel is contemplating legal action against the U.S. government after President Biden blocked its proposed $14.9 billion acquisition of U.S. Steel, citing national security concerns. Despite a slight drop in share prices following the decision, analysts suggest that the company's earnings outlook remains strong, with expectations of significant growth in the next financial year. Nippon Steel's president, Tadashi Imai, expressed that the acquisition review process was mishandled and affirmed their right to seek a proper review of the decision.
Source: YAHOO