"Biden Expresses Concern Over Nippon Steel's Acquisition of U.S. Steel"

President Biden plans to express concern over Nippon Steel's proposed $14.9 billion purchase of U.S. Steel, citing national security concerns and lack of consultation with U.S. Steel's main union. The deal, which faces political opposition, will be addressed before Japanese Prime Minister Fumio Kishida's state visit to Washington on April 10. U.S. officials and lawyers have drafted a statement, and the White House has informed the Japanese government of Biden's decision. U.S. Steel, founded in 1901, had been reviewing strategic options after rejecting a takeover offer last year and is currently trading below Nippon's offer of $55 per share.