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Biden Blocks Japan Firm's $15 Billion Deal to Acquire US Steel
January 04, 2025
|The New Indian Express Kalaburagi
US President Joe Biden has blocked the nearly USD 15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based US Steel, affirming his earlier vow on the presidential campaign trail to prevent the acquisition of Steeltown USA's most storied steel company.
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The proposed deal kicked up an election-year political maelstrom across America's industrial heartland, and blocking it drew a threat of litigation from Nippon Steel.
"We need major US companies representing the major share of US steelmaking capacity to keep leading the fight on behalf of America's national interests," Biden said in a Friday morning statement.
هذه القصة من طبعة January 04, 2025 من The New Indian Express Kalaburagi.
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