An employee enters the human resources and educational building for Japanese company Nippon Steel during a media tour at their East Nippon Works Kashima Area facility in Kashima, Ibaraki prefecture, north of Tokyo on December 6, 2024. (Photo by Richard A. Brooks/ AFP)
TOKYO: Shares in Nippon Steel fell more than 1% on Monday after U.S. President Joe Biden blocked its proposed $14.9 billion acquisition of U.S. Steel , dampening growth prospects for Japan's largest steelmaker.
Biden cited national security concerns, in a potentially fatal blow to the deal after a year-long review.
