Political Furor Over U.S. Steel Bid Puts Cfius in Spotlight

At a Pennsylvania campaign event, President Biden expressed opposition to Nippon Steel's proposed takeover of U.S. Steel, emphasizing the importance of keeping the company American. Despite U.S. Steel's expectation of completing the acquisition this year, regulatory approvals remain pending. Nippon Steel has delayed the deal's closure to late 2024 due to additional scrutiny from the Department of Justice.