Reported 10 days ago
President Biden confirmed his ongoing opposition to Nippon Steel's $14.9 billion bid for U.S. Steel, stating that his views remain unchanged. This follows a national security review by CFIUS that raised concerns about potential risks to the steel supply chain deemed critical for U.S. industries. Despite hopes from supporters of the merger, Biden and other prominent leaders insist U.S. Steel should remain American-owned, reflecting the political sensitivities surrounding the deal, especially with the approaching presidential election.
Source: YAHOO