President Joe Biden rejected the appeals of several top advisers in blocking Nippon Steel’s (NPSCY) $14.9B bid for U.S. Steel (X), The Washington Post’s Ellen Nakashima, Jeff Stein, and David J. Lynch report. Senior administration officials had reservations about calling Nippon Steel’s takeover proposal a “national security risk,” according to the report.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on X:
- 3 Best Stocks to Buy Now, 1/6/2025, According to Top Analysts
- U.S. Steel price target lowered to $40 from $45 at Jefferies
- Rival CEO allegedly spread doubt about Nippon Steel deal prospects, Reuters says
- Trump Weekly: Biden blocks U.S. Steel buyout, banks exit climate alliance
- U.S. Steel’s Merger with Nippon Blocked by U.S.