Nippon Steel says no update from CFIUS over US Steel deal
7:48 pm Wednesday, September 04th, 2024
TOKYO (Reuters) – Nippon Steel Corp has not received any update from the Committee on Foreign Investment in the United States (CFIUS) regarding the company’s proposed $14.9 billion acquisition of U.S. Steel, the Japanese company said on Thursday.
“Since the outset of the regulatory review process, we have been clear with the administration that we do not believe this transaction creates any national security concerns,” Nippon Steel said in a statement.
Sources familiar with the situation told Reuters on Wednesday that the White House is close to announcing President Joe Biden will block Nippon Steel’s acquisition of U.S. Steel citing national security concerns amid growing bipartisan political opposition to the deal.
(Reporting by Mariko Katsumura; Editing by Himani Sarkar)
