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Biden admin delays implementation of order to block Nippon Steel, US Steel deal Reuters
WASHINGTON (Reuters) – U.S. Steel said in a statement on Saturday that the Biden administration would delay implementing a demand outlined in an executive order this month that Nippon Steel abandon its $14.9 billion bid for U.S. Steel.
The parties previously had 30 days to reverse their transaction.
The delay will give the courts time to review a legal challenge the parties launched earlier this month against President Joe Biden’s order.