All articles tagged with #cfius
The U.S. President has ordered that Hiefo Corporation, controlled by a Chinese citizen, divest its interests in certain assets of Emcore Corporation due to national security concerns, prohibiting the transaction and requiring divestment within 180 days, with strict oversight and compliance measures enforced by CFIUS.
The U.S. President issued an order to block the proposed acquisition of U.S. Steel by Nippon Steel due to national security concerns, after a review by CFIUS and a re-evaluation of risks, requiring the companies to enter into a national security agreement to proceed.
U.S. Steel's potential takeover by Nippon Steel remains uncertain as the expected White House decision may be delayed beyond the usual 15-day deadline, with key issues including the granting of a 'golden share' and the CEO's citizenship, and the final decision is now expected by June 18.
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.
President Joe Biden is expected to block the $14.1 billion sale of US Steel to Nippon Steel on national security grounds, pending a review by the Committee on Foreign Investment in the United States (CFIUS). The decision has become politically charged, with Biden emphasizing the importance of US Steel remaining domestically owned. The potential blockage has led to a significant drop in US Steel's stock price, while Nippon Steel remains hopeful for a fair resolution through the US legal system.
President Joe Biden is reportedly set to block the sale of United States Steel Corp. to Nippon Steel, citing national security concerns. The Committee on Foreign Investment in the United States (CFIUS) is expected to refer the case to Biden by late December. Both companies are considering legal action if the merger is blocked. The decision has faced opposition from Biden, President-elect Donald Trump, and the United Steelworkers union. US Steel shares fell nearly 10% following the news.
President Joe Biden is expected to block Nippon Steel's $14.1 billion acquisition of United States Steel Corp. on national security grounds. The decision will be made after the Committee on Foreign Investment in the United States (CFIUS) refers the matter to him by late December.
President-elect Trump has reiterated his intention to block Nippon Steel's $15 billion acquisition of U.S. Steel, citing national security concerns and a desire to strengthen the American steel industry. The Committee on Foreign Investment in the U.S. (CFIUS) is reviewing the deal, which has also faced opposition from President Biden, Vice President Harris, and the United Steelworkers union. Nippon Steel has promised significant investments in U.S. Steel's facilities and job security for American workers, but the deal's future remains uncertain.
President Biden opposes the proposed sale of US Steel to Japan's Nippon Steel, emphasizing the importance of American steel companies and workers. His stance aims to secure support in Pennsylvania, a crucial swing state. The proposed acquisition is under review by CFIUS, and while Biden did not explicitly say he would block the deal, his remarks hold significant influence over the decision. The intervention risks straining relations with Japan, a key US ally, as the administration seeks to strengthen efforts against China.
President Biden opposes the sale of US Steel to Japan's Nippon Steel, citing the importance of maintaining American ownership and operation. The Biden administration is concerned about Nippon's assets in China and has voiced support for a thorough review of the $14.1 billion deal due to potential national security and supply chain impacts. US Steel's shares plunged after the announcement, and the US Chamber of Commerce warned against politicizing the deal, emphasizing the importance of not sending a chilling signal to international companies investing in the US.
President Biden is expected to express concern over Nippon Steel's proposed acquisition of U.S. Steel ahead of Japanese Prime Minister Kishida's visit, citing political support in Pennsylvania and opposition from the United Steelworkers union. The move follows a plunge in U.S. Steel's shares and objections from lawmakers. The proposed deal, currently under CFIUS review, has raised national security implications and sparked tension within Biden's international economic policy, given the historical significance of U.S. Steel and the protected nature of the steel industry in the U.S.
The Biden administration has demanded that the Chinese owners of TikTok sell their stakes in the social media app or face a possible ban in the US due to security concerns about the video-sharing app. The Committee on Foreign Investment in the United States (CFIUS) has been negotiating with TikTok for over two years on a way to let the app keep operating in the US. TikTok has countered that a sale wouldn't solve the perceived security problems and is still going ahead with "Project Texas," a plan to route user traffic through Oracle's cloud servers.