March 13 (Reuters) - U.S. President Joe Biden plans to

express serious concern over Nippon Steel's ( NISTF ) proposed

$14.9 billion purchase of U.S. Steel, the Financial Times

reported on Wednesday.

Shares of U.S. Steel fell 7.3% in afternoon trade.

The White House said in December the deal needed to be

carefully scrutinized given U.S. Steel's core role producing a

material that is critical to national security.

(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by

Devika Syamnath)