US Steel plummets, the United States blocks its planned sale to the Japanese company Nippon – 01/03/2025 at 2:23 p.m.

((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

(Updates)

January 3 – **US Steel XN shares fell 7.8% to $30.05 in pre-market trading

** US President Joe Biden decided on Friday to officially block the planned purchase of Co by the Japanese company Nippon Steel 5401.T for an amount of 14.9 billion dollars, because he fears that the operation will harm national security

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** Last year, Japanese Prime Minister Shigeru Ishiba urged Mr Biden to approve the merger to avoid spoiling recent efforts to strengthen ties between the two countries

** Stock X lost 30% in 2024 and is down more than 4% this year