Reported about 22 hours ago
U.S. Treasury Secretary Janet Yellen stated that the Committee on Foreign Investment in the United States (CFIUS) completed a thorough analysis of Nippon Steel's proposed acquisition of U.S. Steel, which President Biden blocked on national security grounds. Yellen acknowledged the ongoing litigation regarding the rejection and highlighted that CFIUS provided a detailed assessment, although she could not share specifics. The lawsuit claims that the review process was biased, and the two companies seek to overturn Biden's decision for a fresh review of the $14.9 billion merger.
Source: YAHOO