Biden to kill Nippon Steel's $15B takeover of US Steel on national security grounds: report
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President Biden is reportedly set to block Nippon Steel's $15 billion acquisition of US Steel on national security grounds. The Committee on Foreign Investment in the United States (CFIUS) is reviewing the deal and must refer its decision to Biden by December 22 or 23.
December 10, 2024 | 9:45 pm
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US Steel's potential $15 billion acquisition by Nippon Steel is likely to be blocked by President Biden due to national security concerns. The decision is pending a review by CFIUS.
The blocking of the acquisition could negatively impact US Steel's stock price as the deal's failure may lead to uncertainty and potential loss of a significant investment. The national security concerns add a layer of complexity, making the situation more critical for investors.
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