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Biden admin delays enforcement of order blocking Nippon Steel, US Steel deal

4 hours ago

Less than a minute

2025.01.11 20:55

WASHINGTON (Reuters) – U.S. Steel said in a statement on Saturday that the Biden administration will hold off enforcing a requirement laid out in an executive order this month that Nippon Steel abandon its $14.9 billion bid for U.S. Steel.

© Reuters. FILE PHOTO: The logos of Nippon Steel Corp. are displayed at the company headquarters in Tokyo, Japan March 18, 2019. Picture taken March 18, 2019. REUTERS/Yuka Obayashi/File Photo

The parties previously had 30 days to unwind their transaction.

The delay will give the courts time to review a legal challenge brought by the parties earlier this month against President Joe Biden’s order.

4 hours ago

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