The new deadline, now in mid-June, was viewed by U.S. Steel - and investors - as an opportunity for the companies to complete the acquisition, despite previous opposition.
We are pleased that CFIUS has granted an extension to June 18, 2025 of the requirement in President Biden's Executive Order that the parties permanently abandon the transaction.
Even after the election, Trump wrote on social media in December that he is 'totally against' U.S. Steel being bought by a foreign company and said he would block the deal as president.
Dennis Unkovic stated that a new CFIUS and a new president are not legally bound by Biden's decision, which opens the door for negotiating new terms.
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