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Nippon says there's no plan B to blocked US Steel deal
Hindustan Times Patna
|January 08, 2025
NIPPON'S PLANNED PURCHASE OF ITS US RIVAL WAS BLOCKED LAST WEEK BY THE US PRESIDENT BIDEN
Nippon Steel Corp. is not weighing any alternatives to its thwarted $14.1 billion takeover of United States Steel Corp., its chairman and CEO said on Tuesday, shortly after both companies filed US lawsuits to rescue the acquisition.
The Japanese firm's planned purchase of its US rival was blocked last week by President Joe Biden after a year of diplomatic tension, political debate and lobbying efforts from the companies and unions. Biden, who had previously said he opposed the tie-up, cited national-security risks, despite Japan being a close ally.
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