06:14 AM EDT, 09/18/2024 (MT Newswires) -- US Steel's (X) pending takeover by Nippon Steel is facing a delay as a key US national security panel reviewing the $14.9 billion transaction let the companies refile their application, delaying its resolution until after the presidential election, Reuters reported Wednesday, citing a person familiar with the matter.

The Committee on Foreign Investment in the United States, or CFIUS, previously claimed that the proposed transaction posed a national security risk, the report said.

The regulator needs additional time to evaluate the deal, and the refiling grants a fresh 90-day timeline for review, the report added.

The CFIUS, US Steel, and Nippon Steel did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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