Nippon Steel Corp’s planned $14.1 billion takeover of United States Steel Corp has stalled after President Joe Biden plans to formally block the acquisition before the end of the month, according to Bloomberg. The Japanese steelmaker had seen significant growth potential in India, Southeast Asia, and the US. However, political opposition in the US prior to the presidential election derailed the deal, forcing Nippon Steel to reconsider its rapid expansion strategy.
Source: https://www.bloomberg.com/news/articles/2024-12-14/nippon-steel-s-plan-b-now-in-focus-as-14-billion-us-deal-falters