Shares of U.S. Steel (X) are moving higher after the Washington Post reported President Biden will not immediately move to block Nippon Steel’s (NPSCY) proposed takeover. While Biden remains opposed to the deal, a decision on blocking it is unlikely in the short term and may not be made until after the presidential election, people familiar with the matter told the Post. Shears of U.S. Steel are up 7%, or $2.30, to $37.09 following the report.
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