TOKYO, Jan 12 (News On Japan) –
The deadline for the U.S. presidential order, which demanded the termination of Nippon Steel’s deliberate acquisition of U.S. Steel inside 30 days, has been prolonged.
The presidential order issued on the third required Nippon Steel to utterly terminate its acquisition plans by February 2nd.
However, the Committee on Foreign Investment within the United States (CFIUS), which has been reviewing the acquisition, has reportedly authorised an extension of the deadline to June 18th.
Nippon Steel commented on the morning of January twelfth: “We remain committed to completing this acquisition, which promises the best future for the U.S. steel industry and all stakeholders.”
Nippon Steel and U.S. Steel had filed a lawsuit in opposition to President Biden and others, claiming undue political interference relating to the acquisition plans.
Source: ANN