US President Donald Trump has directed the Committee on Foreign Investment in the United States (CFIUS) to conduct a fresh review of Nippon Steel’s bid to acquire US Steel to help determine whether “further action” is appropriate to complete the deal.
This action has raised hopes for a green light for the deal, with US Steel’s stock rising more than 16% in Monday trading.
The stock surge came as investors considered the US administration considering greenlighting the merger, which former President Joe Biden blocked in January on national security grounds.
Nippon Steel welcomed the move, saying an objective and fact-based review of the US Steel acquisition will demonstrate that it strengthens the US economy and national security.
A US Steel spokesperson said the company looks forward to “continuing to work closely with President Trump and his administration to complete this significant and important investment.”
