President Biden is set to block Japan's Nippon Steel's acquisition of US Steel, impacting a $14 billion merger critical in safeguarding American manufacturing amid election campaigns.
The Committee on Foreign Investment hasn’t provided its recommendations to Biden yet, but the president may oppose the deal if the committee advises against it.
US Steel claims there are 'no national security issues' related to the acquisition, emphasizing Japan's status as a strong ally, while pledging to legally challenge any opposition.
Both US Steel and Nippon Steel are prepared for legal battles, signaling determination to navigate through potential setbacks in securing the merger deal.
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