Nippon Steel: CFIUS Referred Decision in U.S. Steel Bid to Biden

By Hiroyuki Tanaka / Yomiuri Shimbun Correspondent

16:58 JST, December 24, 2024

WASHINGTON — Nippon Steel Corp. said on Tuesday it had been informed by the Committee on Foreign Investment in the United States (CFIUS), which had been reviewing its proposed buyout of major steel maker United States Steel Corp., that the committee had not reached unanimity, referring the decision to U.S President Joe Biden. The president must make a decision within 15 days.

The company said in a statement that it strongly hoped the president would carefully reflect on the commitment it had made, which aimed to maintain U.S. jobs and would ultimately strengthen U.S. security.