Joe Biden blocks Nippon Steel’s $14.9bn bid to purchase US Steel
by Callum Jones in New York and agencies from US news | The Guardian on (#6TA8X)
President cites national security concerns as he follows through on pledge to keep steelmaker domestically owned
Joe Biden blocked a $14.9bn bid by Japan's Nippon Steel for US Steel on Friday, citing concerns the deal could hurt national security and following through on a pledge to keep the steelmaker domestically owned as he prepares to depart the White House.
US Steel will remain a proud American company - one that's American-owned, American-operated, by American union steelworkers - the best in the world," the US president said in a statement.
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