U.S. Steel Acquisition by Japan's Nippon Steel Raises Concerns

The $14.1 billion deal is expected to undergo review by the Committee on Foreign Investment in the United States amid national security concerns.

Japan’s Nippon Steel has agreed to buy U.S. Steel for $14.1 billion, a move that has raised concerns among Rust Belt senators from both parties.
Critics want the Biden administration to block the acquisition under a federal law that regulates potential security risks from foreign investment.
The Committee on Foreign Investment in the United States, chaired by Treasury Secretary Janet L. Yellen, is expected to review the deal.
Under the deal, U.S. Steel would retain its brand and Pittsburgh headquarters, as part of a new, combined, company that would be the world’s second-largest steel manufacturer.
The United Steelworkers, which represents about 11,000 U.S. Steel employees, called the company’s board “greedy” for accepting the best offer.