Three US senators have voiced concern about Nippon Steel’s business ties in China, opening a new front in a political effort to stop the Japanese group from completing its proposed $14.9bn acquisition of US Steel.
Sherrod Brown, an Ohio Democrat who chairs the Senate banking committee, on Monday asked US President Joe Biden to investigate Nippon’s business relationships in China, according to a letter obtained by the Financial Times.
Brown raised concerns based on a report by Horizon Advisory, a consultancy, which said Nippon’s market exposure and operations in China created a “material national security risk”.
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