
Biden Blocks $14.9 Billion Takeover of US Steel by Nippon Steel
Pennsylvania, U.S. – US President Joe Biden has vetoed the proposed $14.9-billion acquisition of United States Steel Corporation (US Steel) by Japan’s Nippon Steel, citing national security concerns and potential risks to critical supply chains. The proposed buyout, which was approved by US Steel’s board, aimed to help the second-largest US steelmaker contend with rising…