11:44 AM EDT, 09/13/2024 (MT Newswires) -- White House officials are signaling that President Joe Biden won't move immediately to block Nippon Steel's proposed acquisition of US Steel (X), The Washington Post reported Friday, citing three people with knowledge of the matter.

Last week, the White House was preparing to announce Biden's formal block of the proposed $14.9 billion deal over national security concerns, but now White House officials have indicated that such a decision may not be made until after the presidential election, the report said.

Nippon Steel, US Steel and the White House didn't reply immediately to requests for comment from MT Newswires.

(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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