U.S. Steel, Nippon allege Biden violated constitution in lawsuit over blocked deal
U.S. President Joe Biden violated the Constitution by blocking Nippon Steel's $14.9 billion bid for U.S. Steel through a sham national security review, the companies alleged in a lawsuit they said was filed on Monday.
‘A very bad signal’: What Biden’s U.S. Steel deal block means for foreign investment
President Joe Biden bowed to growing protectionist pressures in the United States and formally blocked a Japanese company’s proposed purchase of U.S. Steel, winning praise from the president’s labor allies and scorn from proponents of an open U.
What's next after Biden blocked the Nippon Steel/US Steel deal?
If the deal does not go through, Nippon Steel would have to pay a US$565 million break-up fee. Read more at straitstimes.com.
Biden Blocks Takeover Bid of U.S. Steel by Japan’s Nippon
The president said he was moving to protect national security in deciding the fate of the iconic Pennsylvania-based company, which became a contentious political issue in an election year.
Biden's Decision to Block Nippon Steel Takeover Creates Uncertainty for U.S. Steel Workers
By blocking a Japanese company’s takeover of U.S. Steel, President Joe Biden says he is protecting good jobs in the American heartland
Biden rejected appeals of several top advisers in blocking U.S. Steel bid
Senior administration officials had reservations about calling Nippon Steel’s takeover proposal a “national security risk.”
President Biden blocks sale of US Steel to Japanese company
In blocking the sale to Nippon Steel, Biden said U.S. Steel "will remain a proud American company – one that’s American-owned and American-operated."
U.S. Steel faces murky future after proposed Nippon Steel takeover
The Biden administration blocked the purchase of U.S. Steel by Japan's Nippon Steel. Here's what that could mean for the once iconic American company.
Biden blocks $14 billion acquisition of US Steel by Japan's Nippon Steel
Nippon Steel announced in December 2023 that it planned to buy the steel producer for $14.9 billion in cash and debt, and committed to keep the U.S. Steel name and Pittsburgh head
It’s not too late to approve the Nippon Steel deal
The Nippon Steel acquisition is more than a simple transaction; it is a strategic investment in America’s future. Let’s not ...
Rise of US Steel paralleled the arrival of the United States on the world stage
President Joe Biden blocked the $15 billion acquisition of U.S. Steel by Japan’s Nippon Steel on Friday — something he had ...
Crain's Cleveland Business1d
Nippon Steel, U.S. Steel sue Cleveland-Cliffs and others in move to keep deal alive
They also filed a lawsuit in federal court in Pittsburgh against rival steelmaker Cleveland-Cliffs Inc. and CEO Lourenco ...
The New York Times14d
National Security Committee Forgoes Decision on U.S. Steel Acquisition
The Committee on Foreign Investment in the United States kicked a decision over the merger with Japan’s Nippon Steel to President Biden, who is expected to block the deal. By Alan Rappeport ...
Japanese buyer sends Biden new U.S. Steel proposal in final bid for support
Nippon Steel sent a new proposal in its bid to buy U.S. Steel, including giving the U.S. government a veto over any reduction ...
Reason12d
Nippon Steel-U.S. Steel Merger Poses No National Security Threat
The Committee on Foreign Investment in the United States (CFIUS) was unable to reach a consensus on Japan's Nippon Steel's $15 billion acquisition of U.S. Steel. The very committee that is ...
The Times of Northwest Indiana15d
Committee split on Nippon Steel acquisition of U.S. Steel, now up to president to decide
The Committee on Foreign Investment in the United States is reportedly split on whether Nippon Steel's $14.9 billion acquisition of U.S. Steel, kicking it over to the administration to take ...
Why United States Steel Stock Crushed the Market Today
A dramatic improvement in the prospects for United States Steel (NYSE: X) being sold to a foreign buyer led to a rally in the ...
KALW11h
Former adviser and analyst discusses why key committee was split on U.S. Steel deal
Why was the Committee on Foreign Investment in the United States split on allowing or blocking Nippon Steel from buying U.S. Steel? NPR's Michel Martin asks one of the committee's former advisers.