EU clears Nippon buyout of US Steel opposed by Biden
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The European Union has approved the $14 billion takeover of US Steel by Japan's Nippon Steel. The European Commission stated that the acquisition would not raise competition concerns. The acquisition plan, announced by Nippon Steel in December 2023, has become a controversial issue ahead of the US presidential election in November. US President Biden opposed the deal, stating that it was important for US Steel to remain domestically owned and operated. The company is based in Pittsburgh, Pennsylvania, which Biden won in the 2020 election.

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https://www.legit.ng/business-economy/economy/1591055-eu-clears-nippon-buyout-steel-opposed-by-biden/