White House officials signal delay in U.S. Steel takeover decision, Washington Post reports

(Reuters) - White House officials have signaled a delay in taking a decision regarding the takeover of U.S. Steel by Japan's Nippon Steel, the Washington Post reported on Friday.

The Committee on Foreign Investment in the United States, Nippon and U.S. Steel all declined to comment. The White House did not immediately respond to a Reuters request for comment.

Nippon Steel and U.S. Steel had sent a letter on Sunday to President Biden about the merger after media reports that he was preparing to block the deal, a spokesperson for the Japanese steelmaker told Reuters.



Biden remains opposed to the deal even if no announcement related to blocking the deal was scheduled but the pace of internal deliberations has slowed, according to the report which cited people with knowledge of the matter.

Japan's biggest steelmaker is pursuing a cash deal to buy the 123-year-old U.S. Steel, despite resistance from Biden, Republican presidential nominee Donald Trump and Democratic nominee Kamala Harris and the United Steel Workers union. A U.S. national security review is being conducted.

Source: Investing.com