BIDEN ADMINISTRATION ALLOWING U.S. STEEL AND NIPPON STEEL TO HAVE MORE TIME TO STEP AWAY FROM ACQUISITION TALKS

President Biden’s administration is allowing U.S. Steel and Nippon Steel to have more time to move on from their merger negotiations.  Biden had ordered the companies to drop the plan within 30 days when he blocked the sale on January third, citing national security concerns.  Now, the Committee on Foreign Investment is giving them until June 18th to step away from the acquisition talks.  That means each company will have time to argue their lawsuits over the president’s decision.