Sept 17 (Reuters) -
A national security committee reviewing Nippon Steel's ( NISTF )
bid for U.S. Steel granted a request by the
companies to refile their bid for approval of the deal, a person
familiar with the matter said on Tuesday, giving the Biden
administration until after the U.S. presidential election to
make a decision about whether to block the deal.
CFIUS, the Committee on Foreign Investment in the United
States, needs more time to understand the impact of national
security and engage with the parties, the person added. Refiling
sets a new 90-day clock to review the proposed tie-up and make
a decision.
President Joe Biden, Democratic presidential candidate
Kamala Harris and Republican presidential hopeful Donald Trump
have said they want U.S. Steel to remain in American hands.
CFIUS, U.S. Steel and Nippon Steel ( NISTF ) did not immediately
respond to requests for comment from Reuters.