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    Market Segment

    January 12, 2025

    Biden extends deadline for unwinding Nippon/USS deal to June

    Written by Ethan Bernard

    The Biden administration has pushed back until June the date for which Nippon Steel must unwind its $14.9-billion dollar deal for Pittsburgh-based U.S. Steel, the company said on Saturday.

    Nippon and U.S. Steel initially had only 30 days, or until early February, to unwind the deal. Thanks to an extension from the Committee on Foreign Investment in the US (CFIUS), that deadline is now June 18.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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