US Steel Pushes for CFIUS Review of Japan’s Nippon Steel Deal

United States Steel Corp. is proactively seeking a foreign investment review from President Joe Biden’s administration as a condition of its sale to Japan’s Nippon Steel Corp, a move designed to quiet critics of the deal.

The sale of US Steel is subject to conditions including “the receipt of approval by the Committee on Foreign Investment in the United States,” the company said in a Securities and Exchange Commission filing. Nippon Steel has agreed to take all steps “to obtain the CFIUS approval.”

US Steel and Nippon Steel both said Monday, when the $14.1 billion deal was announced ...