Biden rejects Nippon Steel's proposal to acquire US Steel

President Joe Biden has blocked Nippon Steel's $15 billion deal to acquire US Steel, citing the need to protect US national interests. Nippon Steel and US Steel criticized the decision, claiming it violated due process and law, and suggesting they might pursue legal action.

Jan 4, 2025 - 07:30

Biden rejects Nippon Steel's proposal to acquire US Steel

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President Joe Biden has blocked Nippon Steel's $15 billion deal to acquire US Steel, citing the need to protect US national interests. Nippon Steel and US Steel criticized the decision, claiming it violated due process and law, and suggesting they might pursue legal action.