TOKYO -- Nippon Steel said in a note Thursday that it is aware of media reports that U.S. President Joe Biden is preparing to block its proposed purchase of U.S. Steel but has not received any official updates on the Committee on Foreign Investment in the United States (CFIUS) review process.
"Since the outset of the regulatory review process, we have been clear with the administration that we do not believe this transaction creates any national security concerns," the company said. "Nippon Steel strongly believes that the U.S. government should appropriately handle procedures on this matter in accordance with the law."
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