Nippon Steel Corp. spokesperson and United States Steel Corp has confirmed to Bloomberg News that The Committee on Foreign Investment in the United States (CFIUS) is now allowing Nippon Steel to extend its termination date of its $14.1 billion takeover plan of US Steel to June 18 instead of February 2.
After President Joe Biden ordered the deal to be terminated, both companies filed a petition to the federal appeals court in Washington, citing that CFIUS hadn’t considered the deal on national security grounds while pointing out that Biden’s order was based on political reasons.
The Japan Liberal Democratic Party is also against Biden’s decision, demanding security reasons behind it. Meanwhile, Nikkei newspaper reported based on an anonymous source that Prime Minister Shigeru Ishiba will visit the US to meet soon-to-be president Donald Trump, possibly to discuss the Nippon Steel bid.
