White House signaling it will likely stop Nippon Steel’s plans to buy US Steel

Associated Press

WASHINGTON (AP) — The White House is signaling an openness to formally blocking the acquisition of U.S. Steel by Nippon Steel, as a government review of the proposed takeover by the Japanese company is on the cusp of ending. The Washington Post reported Wednesday that President Joe Biden plans to stop the deal from going forward. A White House official, insisting on anonymity to discuss the matter, did not deny the report and said Biden still needs to receive the official recommendation from the Committee on Foreign Investment in the United States. That review could end as soon as this month.