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Investing.com — Nippon Metal is making a last-ditch try and win President Joe Biden’s approval for its $14.9 billion acquisition of United States Metal Corp (BVMF:USSX34), providing the U.S. authorities veto energy over any cuts to U.S. Metal’s manufacturing capability, The Washington Submit reported Tuesday, citing a doc despatched to the White Home on Monday.
The Japanese steelmaker’s proposal goals to handle considerations raised by the Committee on Overseas Funding in the US (CFIUS).
Final week, CFIUS warned that Nippon Metal’s takeover might result in a decline in home metal output, doubtlessly posing “dangers to the nationwide safety of the US.”
United States Metal Corp ended the day up greater than 9%.
