Biden blocks Japanese company’s takeover of U.S. Steel
The Biden administration blocked Nippon Steel’s $15 billion acquisition of U.S. Steel Friday.
A national security review referred the decision to the president in December after failing to reach a consensus, with the president opting to keep U.S. Steel domestically owned, according to a White House press release.
“As I have said many times, steel production — and the steel workers who produce it — are the backbone of our nation,” President Joe Biden said in the release. “A strong...
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