U.S. Steel faces murky future after Biden blocks proposed takeover by Nippon Steel
CBSN
The Biden administration's move on Friday to block Nippon Steel's proposed purchase of U.S. Steel raises questions about the once iconic American company's future, with industry sources saying the manufacturer could struggle to energize growth or attract rival acquisition bids.
President Biden stopped the $15 billion deal over national security and supply-chain concerns.
U.S. Steel CEO David B. Burritt blasted the decision, calling Mr. Biden's action "shameful" and "corrupt" in a statement to CBS News.
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