Steel Deal Sent to Biden

Nippon Steel's plan to acquire U.S. Steel has been referred to President Biden after a government panel reviewing the plan failed to reach a consensus.

- KOSAKU NARIOKA

The Japanese steelmaker said Tuesday that it had been informed of the matter by the Committee on Foreign Investment in the U.S., which reviews foreign investments in the U.S. for national-security risks.

Nippon Steel said it is confident that the transaction should be approved if it is fairly evaluated on its merits.