President Joe Biden is preparing to announce that he will formally block Nippon Steel’s proposed $14.9 billion acquisition of U.S. Steel, according to three people with knowledge of the matter, who spoke on the condition of anonymity to describe a matter not yet made public.
The decision would be a stunning rejection of a deal proposed by a U.S. ally that became a major political controversy ahead of the November election. The proposed acquisition has been under investigation by the Committee on Foreign Investment in the United States (CFIUS), a U.S. body.
The decision would be a stunning rejection of a deal proposed by a U.S. ally that became a major political controversy ahead of the November election. The proposed acquisition has been under investigation by the Committee on Foreign Investment in the United States (CFIUS), a U.S. body.
