Reported about 1 month ago
The US government has expressed concerns regarding Nippon Steel's proposed $14.9 billion takeover of US Steel, warning it could pose national security risks by potentially disrupting the supply of steel vital for transportation and infrastructure projects. The Committee on Foreign Investment in the U.S. (CFIUS) stated that the deal might reduce domestic steel production capacity, impacting national security requirements. While Nippon Steel emphasized its commitment to investing in US Steel facilities, CFIUS remains skeptical about the long-term implications for the US steel industry's viability and strategic interests.
Source: YAHOO