CFIUS Split Over Nippon Steel's Potential Takeover of U.S. Steel

Published 13 hours agoX

CFIUS Split Over Nippon Steel's Potential Takeover of U.S. Steel

The Committee on Foreign Investment in the United States (CFIUS) is currently divided over Nippon Steel's $14.9 billion bid to acquire U.S. Steel. While some members have raised concerns about potential national security issues, the majority believe that these risks can be managed effectively. The panel has forwarded its findings to President Donald Trump, who has 15 days to render a decision on the acquisition, according to Reuters.

A significant opposition to the takeover comes from the United Steelworkers union, which has called on President Trump to block the bid. The union argues that Nippon Steel's past actions, such as alleged steel dumping in the U.S. market, pose national security risks. The union's stance adds to the political pressure on the decision-making process.

In an effort to win over U.S. authorities, Nippon Steel has significantly increased its investment commitment in U.S. operations to $11 billion by 2028, up from the initial proposal of $2.7 billion. This strategic move aims to address political and economic concerns. The acquisition's outcome will ultimately depend on President Trump's decision, which is anticipated before the deal's scheduled closure on June 18.

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