financetom
Business
financetom
/
Business
/
CFIUS unable to reach consensus on Nippon Steel's U.S. Steel bid, WaPo reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CFIUS unable to reach consensus on Nippon Steel's U.S. Steel bid, WaPo reports
Dec 23, 2024 4:35 PM

Dec 23 (Reuters) - The Committee on Foreign Investment

in the United States (CFIUS) has told the White House it is

unable to reach a consensus on national security risks involved

in Nippon Steel's ( NISTF ) bid for U.S. Steel, the

Washington Post reported on Monday.

The high-level government review board delivered its final

evaluation of the deal late on Monday, the report said, citing

two people familiar with the matter.

Nippon Steel ( NISTF ) announced a $15 billion takeover of U.S. Steel

last December but both President Joe Biden and President-elect

Donald Trump have said they oppose the deal.

CFIUS said Monday that allowing Nippon Steel ( NISTF ) to take over

U.S. Steel could result in lower domestic steel production

representing "a national security risk", according to the

Washington Post.

The U.S. Treasury Department, which leads CFIUS, and the

White House did not immediately respond to requests for comment.

Nippon Steel ( NISTF ) declined comments.

The decision on what comes next for the deal now lies with

Biden, who has 15 days to act, the report said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Berkshire Hathaway's annual meeting: 92-year-old Warren Buffett won't be replaced soon, says board member
Berkshire Hathaway's annual meeting: 92-year-old Warren Buffett won't be replaced soon, says board member
May 6, 2023
Ron Olson told a group of investors gathered ahead of Saturday’s annual meeting that after spending a lot of time with both legendary investors, he doesn’t think a transition to Greg Abel as CEO is imminent.
Berkshire Hathaway annual meeting updates: Warren Buffett, Charlier Munger share key investment lessons
Berkshire Hathaway annual meeting updates: Warren Buffett, Charlier Munger share key investment lessons
May 6, 2023
Billionaire investor Warren Buffett’s Berkshire Hathaway hosted its annual shareholder meeting on Saturday. During the shareholder meeting, Buffett, 92, who is Berkshire's chairman and chief executive, and Charlie Munger, 99, a vice chairman, answered five hours of questions. Vice Chairman Greg Abel, 60, who would become CEO if Buffett were no longer in charge, and Vice Chairman Ajit Jain, 71, also took some questions. Earlier, Warren Buffett’s company said its first-quarter profits soared along with the paper value of its investment portfolio. Catch LIVE updates on Berkshire Hathaway annual shareholders meeting here:
India extends $1 billion credit line for Sri Lanka by a year
India extends $1 billion credit line for Sri Lanka by a year
May 9, 2023
The credit line, part of about $4 billion in emergency assistance extended by India during the peak of Sri Lanka's financial crisis early last year, was scheduled to end in March.
Vice Media files for Chapter 11 bankruptcy, the latest in a string of digital media setbacks
Vice Media files for Chapter 11 bankruptcy, the latest in a string of digital media setbacks
May 15, 2023
Vice on Monday said that it has agreed to sell its assets to a consortium of lenders — Fortress Investment Group, Soros Fund Management and Monroe Capital — in exchange for $225 million in credit. Other parties will also be able to submit bids.
Copyright 2023-2026 - www.financetom.com All Rights Reserved