The Asian steelmaker, however, has assured that it has not received any update on the case from the agency, while recalling that it has always maintained that the transaction does not jeopardize US national security.
US President Joe Biden will block Nippon Steel's purchase of United States Steel (US Steel) after the Committee on Foreign Investment informed the Japanese company that the deal raised national security concerns that could not be mitigated by either party, according to the Financial Times .
The Asian steelmaker, however, has assured that it has not received any update on the case from the agency, while recalling that it has always maintained that the transaction does not jeopardize US national security.
"Nippon Steel firmly believes that the U.S. government should appropriately handle proceedings on this matter in accordance with the law," it said in a statement.
White House spokeswoman Karine Jean-Pierre said the report was "surprisingly independent," but no recommendations have yet been made to the president.
Anonymous sources reported by Bloomberg suggest that Biden will veto the acquisition as soon as the Committee formally submits its opinion, which could happen this week.
CLOSURE OF PLANTS
However, US Steel warned on Wednesday that if the sale, valued at US$14.1 billion, falls through, it would have to close plants and probably move its headquarters, currently located in Pittsburgh, Pennsylvania.
Nippon Steel's chief executive, David Burritt, said that it had promised to invest around $3 billion (2.699 billion euros) to modernise factories equipped with obsolete technology, which would be key to maintaining competitiveness and jobs. "We wouldn't do it if the deal falls through," Burritt admitted. "I don't have the money," he added.
The executive made these statements days after the vice president of the United States and Democratic candidate for the presidency in the November elections, Kamala Harris, positioned herself against the purchase after stating that US Steel "should remain in American hands." Former president Donald Trump has even called for the operation to be blocked outright.
