Deals
Biden to Block Nippon Steel Takeover of US Steel on Friday
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President Joe Biden has decided to block the sale of United States Steel Corp. to Japan’s Nippon Steel Corp., according to three people with knowledge of the matter, ending a $14.1 billion deal that has faced months of vocal opposition and raising questions over the future of a US industrial giant.
The White House is planning to announce the decision on Friday, people familiar with the planning added. All requested anonymity given the sensitivity of the matter.