X - President Joe Biden's Planned Intervention Signals Heightened Scrutiny Over Nippon Steel's United Steel Acquisition Bid | Benzinga
President Joe Biden is reportedly poised to express significant apprehension regarding Nippon Steel Corporation’s (OTC:NPSCY) proposed acquisition of U.S. Steel Corporation (NYSE:X), potentially jeopardizing the deal and straining relations with Japan.
Sources familiar with the matter reveal that Biden will release a statement addressing the Japanese conglomerate’s $14.9 billion bid for the Pennsylvania-based steel giant ahead of Prime Minister Fumio Kishida’s scheduled visit to Washington on April 18.
The anticipated expression of concern, drafted by U.S. officials and legal experts, the Financial Times highlights, signifies a culmination of internal deliberations at the White House concerning the bipartisan opposition sparked by the proposed ...