Sun Jan 12 03:01:44 UTC 2025: ## Biden Administration Delays Enforcement of Block on Nippon Steel’s U.S. Steel Acquisition

**Washington, D.C. – January 12, 2025** – The Biden administration has announced a delay in enforcing its block of Nippon Steel’s $14.9 billion bid for U.S. Steel. The decision, announced Saturday, grants an extension until June 18, 2025, allowing time for the courts to review a legal challenge filed by both companies.

Initially, President Biden blocked the acquisition on January 3rd, citing national security concerns. While Treasury Secretary Janet Yellen stated that the Committee on Foreign Investment in the United States (CFIUS) conducted a thorough review, the companies argue the process was prejudiced by Biden’s pre-existing opposition to the deal. Their lawsuit alleges a denial of a fair review.

The delay pushes back the deadline for the companies to unwind the transaction, giving them a chance to pursue their legal challenge and potentially secure approval for the merger. Both U.S. Steel and Nippon Steel expressed their intention to complete the transaction, emphasizing its importance for the future of the American steel industry.

The CFIUS, which typically advises the president on such matters, failed to reach a consensus on the acquisition in this instance, leaving the final decision to President Biden. This case is notable because CFIUS rarely rejects deals involving G7 nations. Opposition to the acquisition was voiced by both President Biden and his predecessor, Donald Trump, during the recent election campaign.

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