US President Biden expresses concerns about Nippon Steel’s acquisition of US Steel, a major US steelmaker. A person familiar with the matter told Reuters on the 13th. The photograph was taken on March 11th. (2024Reuters/Kevin Lamarque)
[１３日 ロイター] – US President Biden expresses concerns about Nippon Steel (5401.T), opens a new tab acquisition of US steel giant US Steel (XN), opens a new tab. A person familiar with the matter told Reuters on the 13th.
US Steel’s stock price fell more than 12% on expectations that a political backlash against the acquisition would intensify.
The White House declined to comment. The Japanese Embassy in Washington, US Steel, and Nippon Steel could not be reached for comment.
According to a report in the Financial Times (FT), Mr Biden will make a statement regarding Nippon Steel’s acquisition of US Steel before Prime Minister Fumio Kishida visits Washington. Mr. Biden would not specifically say that the acquisition should be blocked, but instead White House Chairman Brainerd said last December that Nippon Steel’s acquisition of US Steel “will be subject to serious scrutiny.” It is likely that the government will adopt the view that it is worthy of “.”See more
A statement was drafted by senior US government officials and lawyers, and the White House privately informed the Japanese government of Biden’s decision.
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