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U.S. Security Review Inconclusive on Nippon Steel's U.S. Steel Bid

U.S. Security Review Inconclusive on Nippon Steel's U.S. Steel Bid

   Washington, Dec. 23 (Jiji Press)--Nippon Steel Corp. said Monday that it has received a report that U.S. President Joe Biden will determine whether to approve the Japanese company's plan to acquire United States Steel Corp. after a U.S. security review ended without a consensus.
   Biden is expected to make his decision within 15 days.
   The planned acquisition seems to be difficult as the U.S. president has expressed his opposition to the acquisition plan, saying that U.S. Steel should be owned and operated domestically.
   According to U.S. media reports, Nippon Steel has criticized the U.S. administration for exercising undue influence in the screening process. If the plan is blocked, the company may file a lawsuit.
   The Committee on Foreign Investment in the United States, an interagency body of the U.S. government, examined the acquisition plan from a security perspective until the deadline on Monday.

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AFP-JIJI PRESS NEWS JOURNAL


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