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Update: President Biden announced Friday morning he is blocking the U.S. Steel-Nippon Steel deal "to ... That proposal was submitted to the White House for Mr. Biden's review on Monday.

White House spokesperson John Kirby defended the decision. "This isn't about Japan. This is about U.S. steelmaking and keeping one of the largest steel producers in the United States an American ...

The clock is ticking on government approval for the U.S. Steel-Nippon Steel merger, and whether short-term political buffoonery will win out over inexorable economic logic. My money is on buffoonery.

As White House deliberations continue ... a 10-year guarantee that it would not reduce production capacity at U.S. Steel’s mills in Pennsylvania, Indiana, Alabama, Texas, California and Arkansas ...

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Nippon Steel is now negotiating directly with the White House to save the imperiled takeover as President Joe Biden is due to make a final decision by Tuesday, according to a letter obtained by the ...

Shares of U.S. Steel (X) moved higher after Washington Post reported on a proposal sent to the White House by Nippon Steel (NPSCY) in order to gain approval for its pending takeover of the steelmaker.