President Biden’s administration is examining Nippon Steel’s (NPSCY) connections to China, which is a potential stumbling block for the company’s deal to acquire U.S. Steel (X), reported Bloomberg’s Josh Wingrove and Joe Deaux, citing people familiar with the matter. The administration sees its priority as protecting U.S. industry and is worried about Nippon Steel’s exposure to China, the sources reportedly said.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on X:
- U.S. Steel (NYSE:X) Slips as Political Frenzy Grows
- Biden face pressure from environmentalists to block steel merger, NY Times says
- U.S. Steel downgraded to Equal Weight from Overweight at Morgan Stanley
- Third Point buys McKesson, exits T-Mobile in Q4
- New Analyst Upgrade Sends Cleveland-Cliffs (NYSE:CLF) Higher