Biden Blocks Nippon Steel's $14.1 Billion Takeover of US Steel - PRESS AI WORLD
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Biden Blocks Nippon Steel's $14.1 Billion Takeover of US Steel

share-iconFriday, January 03 comment-icon2 weeks ago 7 views
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bloombergBLOOMBERG
Biden Blocks Nippon Steel's $14.1 Billion Takeover of US Steel

Credited from: BLOOMBERG

  • President Joe Biden has blocked Nippon Steel Corp.'s $14.1 billion acquisition of United States Steel Corp..
  • This decision follows a referral from a US security review panel, indicating national security concerns.
  • The announcement has led to a decline in US Steel’s stock price, which was trading under Nippon Steel’s offer of $55 per share.
  • The move has stirred political tensions domestically and with Japan, a long-time ally.
  • This development adds another layer of complexity to ongoing discussions about foreign investments in critical US industries.

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