The extra time allows courts to review legal challenges to his federal order.
This week, President Biden’s administration extended the deadline for Nippon Steel to dissolve its $14.9 billion purchase of the company U.S. Steel, giving the courts time to process Nippon’s legal challenge to President Joe Biden’s order.
President Biden blocked the purchase for national security reasons on January 3, giving the company 30 days to annul its proposed deal. The deadline for the contract’s expiration is now June 18, a decision that both Nippon and U.S. Steel found agreeable.
As the Lord Leads, Pray with Us…
- For President Biden to seek God’s guidance in his final days in office.
- For President-elect Trump to be discerning regarding the steel companies’ proposed merger.
Sources: CNBC, Newsweek
