Nippon Steel/U.S. Steel: Japanese Bid Draws Opposition, Complicating CFIUS Review; Echoes of DP World Deal
National Security attorney Antonia Tzinova was quoted in article by The Capitol Forum about Japan-based Nippon Steel's proposed takeover of U.S. Steel, a transaction that has garnered criticism from both sides of the political aisle. The article goes over how this deal will potentially play a key role in determining the 2024 presidential election and which party controls Congress in 2025. A large part of the outcry against this stems from national security concerns relating to the deal involving an American-owned company being bought out by a foreign entity. Ms. Tzinova highlighted that the company's operations in China will be the main source of scrutiny from regulators and the Committee on Foreign Investment in the United States (CFIUS)
"Third-party connections to countries of concern, such as China, will undergo thorough scrutiny. This scrutiny aims to guarantee that Nippon Steel, as an example, isn't subjected to coercion that could jeopardize U.S. Steel's relationships with the U.S. defense industrial base and infrastructure clients," she said.
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