White House says review of Nippon Steel’s proposed purchase of US Steel ongoing

The White House said on Wednesday that the review process of Nippon Steel’s proposed purchase of US Steel is ongoing and that it knows of no delay or extension.

A source told Reuters this week that the US national security panel reviewing Nippon Steel’s $14.9 billion bid for US Steel let the companies refile their application for approval of the deal, delaying a decision on the politically sensitive merger until after the Nov. 5 presidential election.