Exclusive-US warned Nippon Steel its US Steel bid risks harming American industry, sources say

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WASHINGTON :The Biden administration told Nippon Steel in a letter on Saturday its $14.9 billion acquisition of U.S.

Steel would pose a national security risk by harming the American steel industry, three people said, adding to evidence the U.S.is poised to block it.

Nippon Steel shares were up 0.8 per cent around midday on Thursday.U.S.

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Category: EconomyBusiness

Markets: SingaporeJapanUnited States

Topics: Letter Deal American Transaction National Nippon Wednesday Security United States Steel

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-05 @ 10:57:30 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 506 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 22372700

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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Year Established: 1999

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News Last Updated: 3 hours ago

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