Biden Aide Downplays Nippon Steel Extension in Deal Review
- Sullivan calls move ‘matter of process’ to allow full review
- Extension likely pushes decision on deal past US election
US President Joe Biden has said US Steel should remain domestically owned and operated and is said to be preparing to kill the deal.
Photographer: Justin Merriman/BloombergWhite House National Security Adviser Jake Sullivan downplayed any suggestion that the US granting Nippon Steel Corp. an extension in a security review of its $14.1 billion deal for United States Steel Corp. indicated President Joe Biden was warming to the politically contentious takeover.
“Nobody should overread what happened last week as a substantive expression of views, rather as a matter of process to ensure that the transaction gets the full review that’s appropriate in a case like this,” Sullivan told reporters on the sideline of the Quad Leaders Summit in Wilmington, Delaware on Saturday.