Reported about 1 month ago
President Joe Biden is expected to block the proposed $14.1 billion acquisition of United States Steel Corp. by Nippon Steel Corp. soon after receiving the recommendation from the Committee on Foreign Investment in the United States (CFIUS). This decision comes amid significant political pressure in Pennsylvania, where both US Steel and the United Steelworkers union oppose the deal. The potential blockage of the acquisition has raised concerns about job security at US Steel and could lead to litigation, particularly as Nippon Steel has recently increased its commitment to the deal.
Source: YAHOO