President Trump's Crucial Decision on Nippon Steel's Bid

A key U.S. security panel has delivered its recommendation on Nippon Steel's $14.9 billion bid for U.S. Steel to President Trump. The President has until June 5 to decide on the merger's future. The content of the recommendation remains undisclosed, with companies yet to comment.

The Committee on Foreign Investment in the United States (CFIUS), a significant national security panel, has submitted its recommendation to President Donald Trump regarding Nippon Steel's ambitious $14.9 billion bid for U.S. Steel, according to insider information.

This submission adheres to an executive order signed by Trump, which stipulates that the President has until June 5 to approve or reject the proposed merger. The details of the panel's recommendation have not been disclosed to the public.

Efforts to obtain statements from the involved companies have yet to yield responses as the industrial giants remain silent amid the high-stakes transaction.

(With inputs from agencies.)