Partner Giovanna Cinelli spoke with S&P Global Commodity Insights about President Biden’s move to block the acquisition of US Steel by Nippon Steel. Giovanna noted that, despite the block, it may not signal Nippon Steel’s last attempt to acquire the US company.
“Given the impact of this transaction on US Steel, this may be a transaction where the president—whether Biden or Trump—decide to use Section 3 of the Executive Order, which would allow for additions or changes to the existing order. This may be important if the parties are willing to consider a different deal structure or approach to manage any national security concerns,” Giovanna said.