President Joe Biden on Friday announced a decision to block the $14 billion acquisition of U.S. Steel by Japan-based Nippon Steel, saying domestically produced steel is essential to U.S. national security.
Biden has preserved many of the tariffs imposed by former President Donald Trump, and he enacted a law that would ban China-based social media platform TikTok later this month if the company doesn't find a new parent company. The Supreme Court is set to hear arguments this month in a legal challenge brought by TikTok.
In response to the committee's decision, Nippon Steel alleged the White House had "impermissible undue influence" on the review. Nippon Steel has previously threatened to challenge the White House decision in court.
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Biden Blocks $14 Billion U.S. Steel Acquisition by Nippon SteelPresident Biden has blocked the proposed $14 billion acquisition of U.S. Steel by Nippon Steel, citing national security and antitrust concerns.
Источник: FoxBusiness - 🏆 458. / 53 Прочитайте больше »
Biden Blocks $14 Billion Nippon Steel Acquisition of U.S. SteelPresident Biden blocked the proposed $14 billion acquisition of U.S. Steel by Nippon Steel, citing national security concerns and the importance of a strong domestic steel industry. Biden emphasized the critical role of steel in infrastructure, the auto industry, and national defense. The deal faced scrutiny from the Justice Department on antitrust grounds and the Committee on Foreign Investment in the U.S. (CFIUS) on national security implications.
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Biden Blocks $14 Billion US Steel Acquisition by Nippon SteelPresident Biden has blocked the proposed $14 billion acquisition of U.S. Steel by Nippon Steel, citing national security concerns and the importance of a strong domestic steel industry. The Biden-Harris administration investigated the deal on antitrust and national security grounds. The decision comes after U.S. Steel CEO warned of potential closures of steel mills in Pennsylvania and Indiana if the sale fell through.
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Biden Blocks $14 Billion Acquisition of U.S. Steel by Nippon SteelPresident Biden has blocked the proposed acquisition of U.S. Steel by Nippon Steel, citing national security concerns and the importance of a strong domestic steel industry. The deal faced scrutiny from the Justice Department and CFIUS.
Источник: fox32news - 🏆 547. / 51 Прочитайте больше »
Nippon Steel Extends US Steel Acquisition Deadline as Biden Weighs BlockNippon Steel has pushed back the closing date for its acquisition of U.S. Steel to the first quarter of 2025, from a previous target of late 2024. The decision comes as President Joe Biden considers whether to block the deal, citing concerns about foreign ownership of the company.
Источник: nbcchicago - 🏆 545. / 51 Прочитайте больше »
Biden decides to block Nippon Steel's $15 billion acquisition of U.S. Steel: ReportThe White House is expected to announce U.S. President Joe Biden’s decision to block Nippon Steel’s $15 billion takeover bid of U.S. Steel on Friday.
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