08:54 AM EST, 12/11/2024 (MT Newswires) -- (Updates with US Steel's response in the third paragraph.)

President Joe Biden will wait to see the results of an ongoing national security review of Nippon Steel's bid to acquire US Steel (X) before deciding whether to block it, Reuters reported Wednesday, citing a statement from the White House.

Reuters reported a White House spokesperson as saying that Biden still opposes the deal.

"This transaction should be approved on its merits," a spokesperson for US Steel told MT Newswires. "The benefits are overwhelmingly clear. Our communities, customers, investors, and employees strongly support this transaction, and we will continue to advocate for them and adherence to the rule of law."

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