WASHINGTON (AP) — President Joe Biden has rejected the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel — affirming his vow in March to block the acquisition.
“We need major U.S. companies representing the major share of US steelmaking capacity to keep leading the fight on behalf of America’s national interests,” Biden said in a Friday morning statement.
His decision comes after the Committee on Foreign Investment in the United States, known as CFIUS, failed to reach consensus on the possible national security risks of the deal last month, and sent a long-awaited report on the merger to Biden who had 15 days to reach a final decision.
Fatima Hussein And Josh Boak, The Associated Press
Biden rejects Nippon Steel’s proposed deal to acquire US Steel Canadian News Today.
Read More Details
Finally We wish PressBee provided you with enough information of ( Biden rejects Nippon Steel’s proposed deal to acquire US Steel )
Also on site :
- Wyndham Clark Loses Temper, Goes Berserk in U.S. Open Locker Room
- Iran’s Revolutionary Guard Corps mourns 7 commanders killed in recent Israeli attack
- 7 Best Dresses for Women Over 60, According to Professional Stylists