Washington Post "Biden Disallows Japan Steel to Acquire US Steel"

U.S. President Joe Biden has decided to disallow Japan Steel's acquisition of U.S. Steel, the Washington Post reported.

The Washington Post, citing unnamed sources, said the White House will announce its final decision on this three days local time.

Earlier in December 2023, Japan Steel announced its decision to buy US Steel, which has been considered a symbol of U.S. industrialization, for $14.1 billion (about 18.3 trillion won).

In the same month, Japan Steel and US Steel requested the Foreign Investment Review Board (CFIUS) under the U.S. Treasury Department to deliberate.