TOKYO — Nippon Steel said in a note on Thursday that it was aware of media reports that US President Joe Biden was preparing to block a proposed purchase of US steel, but had not received any formal information regarding the Committee on Foreign Investment in the United States (CFIUS) review process.
“From the beginning of the regulatory review process, we have been clear with the administration that we do not believe this transaction poses any national security concerns,” the company said. “Nippon Steel strongly believes that the US government should properly handle the proceedings in this matter in accordance with the law.”