White House to Review Nippon Steel's $14.9B Bid for U.S. Steel

Nippon Steel's $14.9 billion bid for U.S. Steel awaits a decision from the White House, following a Committee on Foreign Investment referral due to national security concerns. President Joe Biden, known for opposing the deal, may potentially block this acquisition.

Nippon Steel's $14.9 billion bid to acquire U.S. Steel is now under White House review, as reported late Monday by informed sources.

The Committee on Foreign Investment in the United States has referred the matter to the White House, highlighting concerns over national security risks.

This decision provides President Joe Biden, who has consistently opposed the merger, a strategic platform to potentially halt the agreement.

(With inputs from agencies.)