Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
On December 26th, Nippon P420M steel Steel Corporation announced that due to the Biden administration's ongoing review of the transaction, the company has extended the expected completion date for its proposed acquisition of US Steel Corporation from the previous third or fourth quarter of 2024 to the first quarter of 2025.
On December 23, the Committee on P420M steel Foreign Investment in the United States transferred the decision-making power of whether to approve the acquisition to President Biden, who has 15 days of decision-making power.
Biden had planned to use national security rules to block this deal in early December.
Nippon Steel stated in a statement that it hopes the President can use this time to conduct a fair and fact based assessment of the acquisition.
Nippon Steel P420M steel stated that this acquisition will protect and develop American Steel Corporation, creating the best steel manufacturer with world leading capabilities, benefiting American workers and customers.
