In a recent statement, former President Donald Trump expressed renewed opposition to Nippon Steel's $14 billion proposal to acquire U.S. Steel, emphasizing the importance of keeping the iconic American company under domestic ownership. "We don't want to see it go to Japan," Trump stated, despite acknowledging positive relations with the country.
Background:
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December 2023: Nippon Steel announces a $14 billion bid to acquire U.S. Steel.
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January 2025: President Biden blocks the deal on national security grounds.
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April 2025: Trump orders a new review of the deal by CFIUS, raising hopes for its revival.
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April 9, 2025: Trump reiterates his opposition, causing U.S. Steel shares to drop by 7%.
Current Status:
The Committee on Foreign Investment in the United States (CFIUS) is conducting a renewed review of the proposed acquisition, with a decision expected within 45 days. The outcome will determine whether the deal can proceed or if alternative arrangements will be necessary.
The situation underscores the complexities of foreign investment in strategic industries and the influence of political considerations on major corporate transactions.
Vietnam Steel by Hoa Sen Group
