The U.S. Foreign Investment Committee is reported to have not reached a conclusion regarding the acquisition of U.S. Steel by a Japanese steel company.

According to a report by the Financial Times, the U.S. Treasury has notified Nippon Steel and United States Steel (X.US) that the Committee on Foreign Investment in the United States (CFIUS) has not yet reached a conclusion on resolving the national security issues surrounding their $14.9 billion merger, and indicated that the nine departments involved failed to submit recommendations to President Biden before the deadline. The approval deadline for the merger between Nippon Steel and United States Steel is set for the 22nd of this month. This merger has triggered backlash within the U.S., with current President Biden and the elected President Trump publicly stating their intention to veto the merger.

AASTOCKSDec 16 10:15

Express News | Media: The USA Foreign Investment Committee has differing opinions on the Trade of Japan Steel.

BreakingsDec 15 09:59

Express News | The United States Treasury informed Japan Steel that the group reviewing the proposed acquisition of United States Steel has not reached a consensus on how to reduce security risks.

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