The U.S. government’s blocking of Nippon Steel Corp.’s acquisition of U.S. Steel sent shock waves through the Japanese business community and raised concerns that relations could deteriorate between the allies.
Joe Biden said the deal would create "risk for our national security and our critical supply chains." President-elect Trump also opposed the takeover.
The assessment by analysts comes after US President Joe Biden blocked Nippon Steel Corp’s US$14.9 billion bid for US Steel Corp.
President Joe Biden has officially blocked the $14.9 billion takeover of U.S. Steel by Japan's Nippon Steel. Biden said the proposed deal would place one of the largest steel producers in the U.S. under foreign control,
President Biden blocked the deal between Nippon and U.S. Steel earlier this month due to "national security" concerns.
U.S. Steel and Nippon Steel said on Monday that it is suing over President Joe Biden's decision to block its sales agreement and a domestic competitor and union over their actions to scuttle the deal.
US President Joe Biden has decided to block the proposed $14.9 billion purchase of US Steel by Japan's Nippon Steel and will announce the move as soon as Friday, according to US media.Biden decided to block the deal despite intense efforts to sway him in recent days by some of his senior advisors,
US Steel and Nippon Steel threatened legal action Friday after President Joe Biden blocked a controversial $14.9 billion deal for the Japanese company to buy its American rival.
Secretary of State Antony Blinken lauded the close economic and security partnership between the US and Japan after a controversial move by US President Joe Biden to label Japan’s Nippon Steel Corp. as a national security risk.
Japan’s Nippon Steel emphasized that it is not giving up on its takeover of U.S. Steel, a day after suing the Joe Biden administration over blocking the proposed merger.
President Biden's executive order blocking a near-$15 billion acquisition of U.S. Steel requires the abandonment of the transaction within 30 days.