$United States Steel (X.US)$ UPDATE: Biden Plans To Block Ni...

$United States Steel (X.US)$ UPDATE: Biden Plans To Block Nippon Steel Purchase Of US Steel, Bloomberg News Reports

“U.S. President Joe Biden plans to formally block Nippon Steel's proposed takeover of U.S. Steel on national security grounds once the $15 billion deal is referred back to him later this month, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The U.S. national security panel reviewing the deal must refer its decision on the merger to Biden by Dec. 22 or 23, Bloomberg reported. Any referral to the president suggests at least one panel member sees the deal as risky, it added.

Asked for comment on the report, the White House said on Tuesday there was no update on the deal between the two companies...”