tokyo —
The Committee on Foreign Investment in the United States (CFIUS) has told the White House it is unable to reach a consensus on national security risks involved in Nippon Steel’s bid for U.S. Steel, The Washington Post reported Monday.
The decision now lies with President Joe Biden, who has 15 days to act. Both Biden and President-elect Donald Trump have said they oppose the $15 billion deal, which Nippon Steel announced last December.
Nippon Steel said Tuesday that it did not receive any updates from CFIUS. U.S. Steel did not immediately reply to request for a comment. Both companies had previously planned to close the deal before the year’s end.
CFIUS, a government interagency committee that reviews security implications of foreign investment in the United States, said