President Joe Biden is expected to block a $15bn deal by Japan’s Nippon Steel to buy US Steel, ending months of frantic lobbying and delivering a setback to Washington’s relationship with its closest Asia-Pacific ally.
In one of his final actions in government, Biden — long opposed to the takeover — is expected to announce as soon as Friday his decision to kill the proposed acquisition of the iconic American steelmaker, according to two people familiar with the matter.
One of those people said the White House had yet to notify Nippon Steel about the decision.
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