Nippon Steel Corp.: Acquisition of US Steel Delayed

Nippon Steel Corp. has requested an extension of the security review for its $14.1 billion acquisition deal with United States Steel Corp. Insider sources report that this delay is likely to push the politically sensitive acquisition decision past the U.S. elections in November. The technical measure allows Nippon Steel to withdraw and resubmit its application to a security review committee, restarting the decision-making process from scratch. This keeps the proposed deal alive, although President Joe Biden has promised that U.S. Steel should remain under American ownership and is reportedly already preparing measures to prevent the deal. For the stock markets, the situation remains tense: many experts speculate that the political climate and upcoming U.S. elections will have a decisive impact on the ultimate fate of the acquisition. Investors are closely monitoring developments, as the decision could significantly affect the companies involved.