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US decision on Nippon's bid for US Steel pushed back until after election
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US decision on Nippon's bid for US Steel pushed back until after election
Sep 21, 2024 6:51 PM

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.

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