The Biden administration has agreed to delay enforcing a requirement that Nippon Steel abandon its $14.9 billion bid for U.S. Steel, giving the courts time to review a legal challenge against the president's national security-based block of the deal.
WASHINGTON — The Biden administration will hold off enforcing a requirement laid out in an executive order this month that Nippon Steel abandon its $14.9 billion bid for U.S. Steel, the companies said on Saturday. President Joe Biden blocked Nippon Steel’s planned acquisition of U.S. Steel on national security grounds on Jan.
review was prejudiced by Biden’s longstanding opposition to the deal, denying them of a right to a fair review. They asked a federal appeals court to overturn Biden’s decision to allow them a fresh review to secure another shot at closing the merger. The U.S. Treasury secretary chairs the
NATIONAL SECURITY MERGERS AND ACQUISITIONS FOREIGN INVESTMENT STEEL INDUSTRY PRESIDENTIAL EXECUTIVE ORDER
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