US Steel stock surges after Trump orders new security review of Nippon Steel bid

From Yahoo Finance: 2025-04-08 07:31:00

Shares of U.S. Steel surged after President Trump ordered a national security review of Nippon Steel’s $15 billion bid to acquire the company. President Biden previously blocked the deal, leading to a 16% jump in U.S. Steel’s shares. The Committee on Foreign Investment will review potential security risks and submit recommendations within 45 days.

Ancora Holdings Group, a minority stakeholder in U.S. Steel, will not oppose Nippon’s bid. They urge U.S. Steel to delay its annual meeting to allow shareholders time to learn the outcome of the CFIUS review. Nippon’s $15 billion offer sparked political debate, with Biden and Trump taking opposing stances on the acquisition.

CFIUS sent a report on national security concerns to Biden but failed to reach a consensus. Biden eventually blocked the transaction, supported by United Steelworkers concerned about job security and financial transparency. Nippon and U.S. Steel filed a federal lawsuit challenging Biden’s decision, alleging collusion between the Steelworkers union and a rival steelmaker.

In February, Trump suggested Nippon Steel would invest in U.S. Steel instead of acquiring it. The ongoing dispute highlights the complex intersection of national security, economic interests, and political considerations in the steel industry.



Read more at Yahoo Finance: US Steel hits 52-week high after Trump orders new security review of Nippon Steel bid