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CFIUS unable to reach consensus on Nippon Steel's U.S. Steel bid, WaPo reports

The Committee on Foreign Investment in the United States (CFIUS) has told the White House it is not able to reach an agreement on national security threats included in Nippon Steel's quote for U.S. Steel, the Washington Post reported on Monday.

The high-level government evaluation board provided its last assessment of the offer late on Monday, the report stated, mentioning two people acquainted with the matter.

Nippon Steel announced a $15 billion takeover of U.S. Steel last December however both President Joe Biden and President-elect Donald Trump have said they oppose the deal.

CFIUS stated Monday that allowing Nippon Steel to take over U.S. Steel might result in lower domestic steel production representing a national security risk, according to the Washington Post.

The U.S. Treasury Department, which leads CFIUS, and the White House did not instantly react to ask for comment. Nippon Steel decreased comments.

The choice on what comes next for the offer now lies with Biden, who has 15 days to act, the report stated.

(source: Reuters)