Biden rejects Nippon Steel's proposed deal to acquire US Steel
Headline from NBC 5 Dallas-Fort Worth
President Joe Biden has rejected the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel.
NBC 5 Dallas-Fort Worth's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
The president’s announcement of the fate of the iconic Pennsylvania-based company, which became a contentious political issue in an election year, is expected as soon as Friday.
In a statement, President Biden said a deal would have imperiled U.S. supply chains. Critics say the move could backfire, weakening a domestic steelmaker.
President Joe Biden blocked the $14 billion takeover of U.S. Steel by Nippon Steel of Japan in an announcement Friday based on grounds that the sale posed a threat to national security.
President Joe Biden has blocked the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel. This affirms his earlier vow to block the acquisition.
"As I have said many times, steel production—and the steelworkers who produce it—are the backbone of our nation. A strong domestically owned and operated steel industry represents an essential national security priority and is critical for resilient supply chains.
President Joe Biden has blocked the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel — affirming his earlier vow on the presidential campaign trail to prevent the acquisition of Steeltown USA's most storied steel company.
US President Joe Biden is poised to officially block Nippon Steel's proposed $14.9-billion purchase of US Steel, a person familiar with the matter said on Friday, dealing a probably fatal blow to the contentious merger plan.
President Joe Biden announced that his administration will block the proposed $14.9 billion sale of U.S. Steel to Nippon Steel after conducting reviews of the proposed deal.
President Biden is formally blocking the sale of U.S. Steel to a Japanese buyer, saying production of the alloy is critical for infrastructure and defense and should remain in American hands.
WASHINGTON — President Joe Biden blocked the $14 billion takeover of U.S. Steel by Nippon Steel of Japan in an announcement Friday based on grounds that the sale posed a threat to national security. The decision was an extraordinary use of executive power, particularly for a president who is just we…
By Chris Isidore, Arlette Saenz and Kayla Tausche, CNN New York (CNN) — President Joe Biden said Friday he is blocking a $14.3 billion acquisition of US Steel by Japan’s Nippon Steel, marking a significant use of executive authority in the closing days of his administration.
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