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How influential will CFIUS's assessment be on Biden's decision on Nippon Steel's acquisition by January 8, 2025?
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Resolution / Starting Odds
Strongly Influential • 25%
Moderately Influential • 25%
Slightly Influential • 25%
Not Influential • 25%
Official statements or credible news reports
Story
Biden to Decide Within 15 Days on Nippon Steel's U.S. Steel Acquisition Amid Security Concerns
Dec 24, 2024, 01:19 AM
President Joe Biden will decide the fate of Nippon Steel Corp.'s proposed acquisition of U.S. Steel Corp. after the Committee on Foreign Investment in the United States (CFIUS) failed to reach a consensus on whether the deal poses national security risks. CFIUS has notified Nippon Steel and U.S. Steel that it has referred the decision to the President, and the White House confirmed receipt of the committee's assessment. Nippon Steel stated it has not received any update from CFIUS on the status of the report but strongly believes that the benefits of the acquisition will be fairly evaluated and urges the President to carefully consider the matter. The deadlock leaves Biden 15 days to make a decision. Biden has reportedly opposed the deal since March, aligning with concerns raised by the United Steelworkers Union.
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