U.S. Steel Shareholders Overwhelmingly Approve $14 Billion Nippon Steel Merger, But Deal Faces Uncertainty from Biden Administration over National Security Concerns

U.S. Steel shareholders approved the $14.1 billion takeover by Japanese-owned Nippon Steel with over 98% of shares voted supporting the deal
The merger promises to benefit Americans by ensuring competition and checking increased steel prices
The deal faces uncertainty and must be approved by the Justice Department and Committee on Foreign Investment amid concerns over national security and potential job losses
President Biden and lawmakers from both parties oppose the deal over worries it will hurt U.S. steel jobs
Nippon Steel has said it does not anticipate job losses and will maintain U.S. manufacturing facilities