April 7 (Reuters) - President Donald Trump on Monday

directed the Committee on Foreign Investment in the United

States to review the acquisition of U.S. Steel by the buyers "to

assist me in determining whether further action in this matter

may be appropriate."

The news gave hope to investors that the Trump

administration was considering greenlighting Nippon Steel's ( NISTF ) bid

for U.S. Steel after former President Joe Biden blocked it in

January on national security grounds. Shares of US Steel rose

nearly 7% after the statement was released. US Steel and Nippon

Steel ( NISTF ) did not immediately respond to requests for comment.

Last month, the

Trump administration filed a motion

to extend two deadlines in U.S. Steel, and Nippon

Steel's ( NISTF ) lawsuit against a U.S. national security panel

to give the government more time to wrap up merger talks with

the firms.