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by Nippon Steel Corp., leaving the fate of the deal for the iconic American steelmaker to the realm of US regulators and politics.
Biden has called for domestic ownership and announced his support for US workers, raising doubts on whether Nippon Steel can succeed in closing the transaction. Nippon Steel’s all-cash offer carries a 142% premium to US Steel’s share price on the last day of trading before the US company announced a strategic review.
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