CNN —As presidential politics cloud the outlook of US Steel’s merger with its Japanese rival, a national security review of the deal is now not expected to be decided until after the election, according to people familiar with the matter.
Prime Minister Fumio Kishida, during a White House visit in April, told reporters that the legal reviews would determine the deal’s outcome.
US Steel put itself up for sale in 2023 after receiving an unsolicited, $7 billion takeover offer from Ohio-based Cleveland Cliffs.
The $14.9 billion deal with Nippon Steel, Japan’s largest steelmaker, resulted from that sales process.
The White House has said it would await the recommendation of the committee, which has yet to make a decision on the matter, CNN has learned.
Persons:
Joe Biden, Biden, Fumio Kishida, Janet Yellen, Kamala Harris, Donald Trump, Ohio Sen, JD Vance, Sen, Sherrod Brown of, John Fetterman of, Saloni Sharma, ” Saloni, Josh Shapiro, Harris, “, ” Manuel Bonder
Organizations:
CNN, Foreign Investment, US, Washington Post, US Steel, Steel, Nippon, Sherrod Brown of Ohio, Nippon Steel, White, ”, Democrat
Locations:
United States, Pittsburgh, Delaware, American, John Fetterman of Pennsylvania, Ohio, Cleveland, ” Pennsylvania, Western Pennsylvania