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International Business Times

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AFP News

US Steel, Nippon Steel Seek US Security Review Of Takeover Deal

US Steel Nippon United States Nippon Steel US Steel Corp National Security Japan CFIUS USW

Nippon and US Steel asked a federal interagency panel to review their proposed $14.1 billion deal following protests on Capitol Hill (Credit: AFP)

US Steel Corp and its potential buyer Nippon Steel of Japan are requesting a federal review of their proposed deal following congressional criticism that the transaction threatens US national security, US Steel said Thursday.

The companies asked the Committee on Foreign Investment in the United States -- an interagency body established to review foreign takeovers of US companies -- to evaluate Nippon's $14.1 billion takeover of Pittsburgh-based US Steel.

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