U.S. Stock Market News | U.S. regulatory agencies reportedly agree to Japan Steel's resubmission of acquisition application, causing U.S. Steel to rise by 3.8% temporarily
On Wednesday, US Steel's stock price rose by 3.8% at one point. As of the time of publication, the stock has risen by 2.53% to $37.155. On the news front, there has been a turning point in the acquisition case of US Steel, as the Committee on Foreign Investment in the United States (CFIUS) responsible for reviewing this transaction has approved Japan's Nippon Steel's resubmission of the merger application. Nippon Steel announced in December last year that it would invest $14.9 billion to acquire US Steel. As customary, this transaction is subject to review by CFIUS. CFIUS is an inter-agency government group led by the US Department of the Treasury, primarily responsible for reviewing whether foreign investment transactions in the US pose national security risks
According to the Zhitong Finance and Economics APP, on Wednesday, US Steel (X.US) stock price rose by 3.8% at one point. As of the time of publication, the stock has risen by 2.53% to $37.155. On the news front, there has been a turning point in the acquisition of US Steel, as the Committee on Foreign Investment in the United States (CFIUS) responsible for reviewing the deal has approved Japan's Nippon Steel to resubmit the merger application.
Nippon Steel announced in December last year that it would spend $14.9 billion to acquire US Steel. As usual, this deal has been subject to review by CFIUS. CFIUS is an inter-agency government group led by the US Department of the Treasury, primarily responsible for reviewing whether foreign investment transactions in the US pose national security risks