MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Biden Unlikely To Block US Steel Acquisition Before Election

US-JAPAN
Homepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsPolitical Market News

The Washington Post reports that US President Joe Biden, “will not imminently move to block Nippon Steel’s bid to acquire U.S. Steel amid mounting concerns over the political and economic consequences of nixing the deal.”

  • President Biden, as well as both presidential nominees - Vice President Kamala Harris and former President Donald Trump -, are opposed to Nippon Steel's proposed USD$14.9 takeover, with the White House citing national security concerns.
  • The Post reports: "White House officials have now indicated that such a decision is unlikely in the short term and may not be made until after the 2024 presidential election, according to [sources]... The president remains opposed to the deal, officials said. No announcement was ever scheduled. But the pace of internal deliberations has slowed.”
  • Bloomberg reports that Nippon Steel sent a letter to President Biden on September 8, but a spokesperson from the company declined to disclose the contents of the letter, or whether there was a response.
  • Bloomberg: "The Japanese company dispatched its executive vice president to the US this week, although the United Steelworkers union has said it would not be bullied into accepting it."
185 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The Washington Post reports that US President Joe Biden, “will not imminently move to block Nippon Steel’s bid to acquire U.S. Steel amid mounting concerns over the political and economic consequences of nixing the deal.”

  • President Biden, as well as both presidential nominees - Vice President Kamala Harris and former President Donald Trump -, are opposed to Nippon Steel's proposed USD$14.9 takeover, with the White House citing national security concerns.
  • The Post reports: "White House officials have now indicated that such a decision is unlikely in the short term and may not be made until after the 2024 presidential election, according to [sources]... The president remains opposed to the deal, officials said. No announcement was ever scheduled. But the pace of internal deliberations has slowed.”
  • Bloomberg reports that Nippon Steel sent a letter to President Biden on September 8, but a spokesperson from the company declined to disclose the contents of the letter, or whether there was a response.
  • Bloomberg: "The Japanese company dispatched its executive vice president to the US this week, although the United Steelworkers union has said it would not be bullied into accepting it."