Biden blocks Nippon Steel from buying US Steel
Source: BBC
US President Joe Biden has formally blocked the takeover of US Steel by a bigger Japanese company, saying foreign ownership could pose risks for national security.The controversial decision comes a year after Nippon Steel first announced the $14.9bn (£12bn) deal, describing it as a lifeline for its smaller Pennsylvania-based rival. But the transaction soon ran into political trouble, after leaders of the United…
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