07:15 AM EST, 01/13/2025 (MT Newswires) -- United States Steel ( X ) said Saturday that the Committee on Foreign Investment in the United States has granted an extension of President Biden's Executive Order to "permanently abandon" the proposed transaction with Nippon Steel until June 18.

The US President Joe Biden issued an order earlier this month to asking US Steel and Nippon Steel "to take all steps necessary to fully and permanently abandon the Proposed Transaction no later than 30 days."

"We look forward to completing the transaction, which secures the best future for the American steel industry and all our stakeholders," US Steel said.