A powerful government panel has failed to agree on the potential national security implications of a $15 billion proposed acquisition of U.S. Steel by Japanese firm Nippon Steel. The decision now rests with President Joe Biden, who has previously expressed reservations about the deal.
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Driving is the most popular method of transportation this holiday season, but airports still expected to set record-breaking travel numbersSave on gifts, travel essentials and more with these Insider DealsSet a resolution with our New Year’s sale on Babbel language learningFILE - The United States Steel logo is pictured outside the headquarters building in downtown Pittsburgh, April 26, 2010.
The interagency committee reviews such deals with an eye toward potential national security risks. Monday was the deadline to approve the deal, recommend that Biden block it or extend the review process.Under the terms of the approximately $14.9 billion all-cash deal, U.S. Steel would keep its name and its headquarters in Pittsburgh, where it was founded in 1901 by J.P. Morgan and Andrew Carnegie.
In the face of political opposition, Nippon Steel and U.S. Steel had waged a public relations campaign to win over skeptics.
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