President orders CFIUS review of U.S. Steel, Nippon Steel agreement

2 months ago 22

TipRanks

Tue, Apr 8, 2025, 7:35 AM 1 min read

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In an bid published by White House, President Donald Trump stated successful part: “On January 3, 2025, President Biden issued an bid prohibiting the acquisition of United States Steel Corporation by Nippon Steel (NPSCY) Corporation, Nippon Steel North America, Inc., and 2023 Merger Subsidiary… In that order, President Biden reserved the close of the President ‘to contented further orders with respect to the Purchasers oregon U.S. Steel (X) arsenic shall successful my judgement beryllium indispensable to support the nationalist information of the United States.’… Consistent with my authorization nether Article II of the Constitution and the laws of the United States, including conception 721 of the Defense Production Act of 1950, arsenic amended, 50 U.S.C. 4565, I nonstop the Committee connected Foreign Investment successful the United States to behaviour a reappraisal of the acquisition of U.S. Steel by the Purchasers to assistance maine successful determining whether further enactment successful this substance whitethorn beryllium appropriate… Consistent with the procedures acceptable distant successful conception 721, wrong 45 days of the day of this memorandum, CFIUS shall taxable a proposal to maine describing whether immoderate measures projected by the parties are capable to mitigate immoderate nationalist information risks identified by CFIUS. This proposal shall see a connection describing each subordinate agency’s position, including the reasons for specified position.”

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