The Committee on Foreign Investment in the United States kicked a decision over the merger with Japan’s Nippon Steel to President Biden, who is expected to block the deal.

The Committee on Foreign Investment in the United States (CFIUS) was unable to reach a consensus on Japan's Nippon Steel's $15 billion acquisition of U.S.

Nippon Steel has countered these concerns by proposing measures like appointing U.S. citizens to top management positions and ensuring that the steel produced meets U.S. national security requirements. Moreover, Japan is a close U.S. ally, which complicates the narrative of foreign ownership being inherently detrimental to American interests.

Japanese steel producer says it remains confident the acquisition “will protect and grow United States Steel.”

Nippon Steel's $14.9 billion bid for U.S. Steel is under scrutiny by the Committee on Foreign Investment in the United States (CFIUS) due to national security concerns. Four meetings, multiple proposals,

The Japanese company’s plan to acquire United States Steel has been referred to President Biden after a government panel reviewing the plan failed to reach a consensus.

Japan's Nippon Steel said on Thursday it has extended the closing period for its $15 billion purchase of U.S. Steel, expressing confidence that the acquisition will protect and grow the American company.