Steel Mills
Decision on fate of USS/Nippon deal pushed to after elections: Report
Written by Laura Miller
September 19, 2024
The US government’s decision on whether it will block Nippon Steel’s acquisition of U.S. Steel on national security grounds has been pushed until after the November elections.
That’s according to a Sept. 17 Reuters report citing sources familiar with the matter who preferred to remain anonymous due to the delicacy of the situation.
Reuters said that the Committee on Foreign Investment in the US (CFIUS) allowed USS and Nippon to refile their application seeking approval for the merger.
That would reset the 90-day period CFIUS has to review the application and delay its decision on whether the deal poses a threat to national security.
If the Committee refers the case to President Biden after its review, he will have up to 15 days to decide the deal’s fate.
Nippon Steel declined to comment on this story. U.S. Steel and CFIUS did not return requests for comment.
Laura Miller
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