US Steel shares surge 12% after Trump orders fresh review of Nippon Steel's bid

Core Viewpoint - The Trump administration is reviewing Nippon Steel's bid for US Steel, potentially paving the way for the merger after it was previously blocked by President Biden on national security grounds [1][3]. Group 1: Company Reactions - Nippon Steel expressed satisfaction with the review, stating confidence that an objective analysis will demonstrate the partnership's benefits to American economic and national security [2]. - US Steel did not provide comments regarding the situation [2]. Group 2: Market Impact - Following the announcement of the review, US Steel's share price increased by 12%, indicating investor optimism about the potential approval of the merger [3][5]. Group 3: Legal Context - After the merger was blocked by President Biden, US Steel and Nippon Steel filed a lawsuit against the Committee on Foreign Investment in the United States (CFIUS), claiming that the decision was prejudiced and violated their rights to a fair review [3][4]. - The lawsuit alleges that the blocking decision was politically motivated to gain favor with the United Steelworkers union in Pennsylvania [4]. Group 4: Government Actions - The Trump administration has extended deadlines related to the merger discussions and the lawsuit, allowing more time for negotiations between US Steel and Nippon Steel [6].