CFIUS Delays Nippon Steel's $14.9 Billion Bid for U.S. Steel

The U.S. national security panel has delayed Nippon Steel's $14.9 billion bid for U.S. Steel until after the Nov. 5 presidential election. The Committee on Foreign Investment in the United States (CFIUS) requires more time to assess national security impacts, leading to a new 90-day review period.

Nippon Steel's $14.9 billion bid for U.S. Steel faces delays as the U.S. national security panel, CFIUS, allows companies to refile their application, pushing a decision to post-election. The proposed merger raised concerns over national security and the critical steel supply chain for U.S. industries.

The review period has been reset for an additional 90 days to thoroughly assess the deal's implications. Officials suggest the decision will likely be made close to the full 90-day timeframe. Nippon Steel and other stakeholders have remained tight-lipped with no immediate comments from involved parties.

The merger has also sparked political debate with Vice President Kamala Harris and opponent Donald Trump expressing differing views on maintaining U.S. Steel ownership. Meanwhile, Japan views the deal as crucial for strengthening economic ties with the U.S. amid ongoing negotiations and CFIUS scrutiny.

(With inputs from agencies.)