financetom
Business
financetom
/
Business
/
U.S. Steel deal security review to proceed normally, White House says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
U.S. Steel deal security review to proceed normally, White House says
Apr 18, 2024 11:22 AM

WASHINGTON, April 18 (Reuters) - Any national-security

review of the deal by for U.S. Steel conducted by the

Committee on Foreign Investment in the United States (CFIUS)

will proceed as normal, a White House official said on Thursday.

President Joe Biden has repeatedly said he opposed the sale

of the U.S. industrial firm to Japan's Nippon Steel ( NISTF ),

leaving some to describe the deal as on life support. But it

remained unclear what, if any, additional steps he would take to

block the deal.

"Obviously, there are certain legal processes... you're

referring to CFIUS," said White House National Economic Adviser

Lael Brainard at the Semafor World Economy Summit 2024. "Those

are going to proceed as normal, presumably."

Speaking on Wednesday to steel workers, Biden promised that

U.S. Steel would remain a "totally American company." U.S. Steel

and Japanese buyer Nippon Steel ( NISTF ) later said the

Pittsburgh-based firm will remain an "iconic American company"

even after the $14.9 billion takeover.

United States Steel ( X ) shares were trading down 0.3% at

$39.02 midday Thursday, and Nippon Steel ( NISTF ) shares closed up 0.9%

to 3,463 yen in Tokyo.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Power Nickel, Chilean Metals Complete Spin-Out
Power Nickel, Chilean Metals Complete Spin-Out
Feb 3, 2025
07:46 AM EST, 02/03/2025 (MT Newswires) -- Power Nickel ( PNPNF ) on Monday said it completed the spinout of the Golden Ivan Property and certain Chilean assets and liabilities to its shareholders through Chilean Metals. We are excited about the future at Chilean even while we remain focused on advancing our exploration at Nisk, said Power Nickel ( PNPNF...
Tyson Foods boosts annual sales forecast on strong beef, chicken demand
Tyson Foods boosts annual sales forecast on strong beef, chicken demand
Feb 3, 2025
(Reuters) -Tyson Foods raised its annual sales forecast on Monday as robust demand for its beef and chicken products helped the meat packer beat estimates for first-quarter results, sending its shares up 4% in premarket trade. The U.S. company expects fiscal 2025 sales to be flat to up 1%, compared with its prior forecast of flat to down 1%. Tyson...
PyroGenesis Expands Contract with Varennes Project, Reprices Warrants
PyroGenesis Expands Contract with Varennes Project, Reprices Warrants
Feb 3, 2025
07:48 AM EST, 02/03/2025 (MT Newswires) -- PyroGenesis ( PYRGF ) said Monday that its Pyro Green-Gas subsidiary signed a $1.1 million followup contract with the Varennes Carbon Recycling plant in Quebec. As a result, PyroGenesis ( PYRGF ) added its overall project contracts with Varennes increased to $3.6 million. The new contract expands on the original project announced by...
Pfizer Resolves Do No Harm's Legal Challenge to Fellowship Program
Pfizer Resolves Do No Harm's Legal Challenge to Fellowship Program
Feb 3, 2025
07:48 AM EST, 02/03/2025 (MT Newswires) -- Pfizer ( PFE ) has resolved the legal challenge filed by advocacy group Do No Harm to the company's Breakthrough fellowship program, with a New York district court dismissing the case Friday. According to the court document, Pfizer ( PFE ) changed the criteria for the program in February 2023 and has announced...
Copyright 2023-2026 - www.financetom.com All Rights Reserved