Biden has determined to dam Nippon Metal's acquisition of US Metal – report

In case you’ve been following this for a while, that is no shock. However this places to an finish the drawn out and contentious proposal involving $14.9 billion. For some context, the Committee on International Funding within the US (CFIUS) deferred their resolution on the approving the acquisition to Joe Biden. Therefore, the president has the ultimate say right here.

From earlier than:

• Rejecting the US Metal sale to Nippon Metal will mark the top of an period in US capitalism
• Washington Submit experiences that Biden will block sale of US Metal to Japanese purchaser
• Biden to announce Friday on whether or not he’ll approve Japanese acquisition of US Metal

As a lot as this would possibly trigger some rigidity in US-Japan relations, it is very important keep in mind who’s sporting the pants within the relationship. So, no hurt will probably be performed in that sense.

The Nikkei is closed for buying and selling at this time amid a Japanese vacation however US metal noticed its shares down over four% yesterday.

This text was written by Justin Low at www.ubaidahsan.com.



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