Biden Poised to Block US Steel-Nippon Merger Amid Internal Dispute
TL;DR Summary
The Biden administration is divided over Nippon Steel's proposed $15 billion acquisition of US Steel, with the Pentagon, Treasury, and State Department finding no national security risks, despite President Biden's opposition, which critics claim is politically motivated. The Committee on Foreign Investment in the US (Cfius) is reviewing the deal, with a recommendation expected by December 23. Both Biden and President-elect Trump oppose the deal, with Biden facing pressure from the United Steelworkers union to block it. Nippon Steel is attempting to salvage the deal amid political tensions.
- Biden administration split over US Steel deal Financial Times
- Nippon Steel promises $5,000 payouts to steelworkers as President Biden signals he will block the sale Pittsburgh Post-Gazette
- Biden plans to block Nippon Steel and US Steel merger, Bloomberg sources say WTAE Pittsburgh
- Impasse deepens over U.S. Steel takeover as government review nears end The Washington Post
- Biden Set to Block US Steel Deal as Judge Stops Supermarket Tieup Bloomberg
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