Nippon Steel's $14.9 Billion Bid Faces National Security Review

A significant development emerged as the U.S. national security panel forwarded a recommendation to President Donald Trump concerning Nippon Steel's $14.9 billion acquisition bid for U.S. Steel. This recommendation is part of actions complying with an executive order by Trump aimed at evaluating the national security implications of the deal.

The specific details of the committee's recommendation remain undisclosed. President Trump now has 15 days to determine the outcome of this transactional bid, though this timeline could potentially extend.

Neither the involved companies nor the Treasury Department, which heads the Committee on Foreign Investment in the U.S. (CFIUS), provided immediate comments. Previously, under a CFIUS-led review, former President Biden blocked the deal citing national security risks. Nippon Steel has proposed significant investments, contingent on the approval of their bid by the Trump administration.

(With inputs from agencies.)