US Department of Justice opens probe into Nippon Steel’s US Steel deal, Politico reports
:The U.S. Department of Justice has opened an in-depth antitrust investigation into Nippon Steel’s $14.1 billion takeover of U.S. Steel, the Politico reported on Wednesday citing two of us with recount knowledge of the topic.
The DOJ declined to narrate, whereas the firms did no longer straight away reply to Reuters’ requests for narrate.
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The deal has faced the scrutiny of U.S. lawmakers over national safety concerns, with President Joe Biden asserting final month U.S. Steel need to “remain an American steel company that is domestically owned and operated”.
At some level of a visit to the U.S., Japanese Top Minister Fumio Kishida acknowledged he hoped the deal would proceed in a sure route however did no longer criticize the DoJ’s scrutiny of the takeover.
The deal has additionally faced the disproval of the United Steel Group union.
Source: Reuters