Partner David Plotinsky spoke with Bloomberg for an article about the ongoing debate over Nippon Steel Corp.’s proposed takeover bid of US Steel Corp. The article notes that the case against the takeover was provided in a letter from the Treasury Department on behalf of the Committee on Foreign Investment in the United States (CFIUS), which relied on a novel argument to block the deal that could expand the government’s definition of national security to include threats to the American economy. David commented on the tenuous nature of this position.
“Although it’s not unreasonable to connect a robust commercial steel market to US national security, it’s hard for the government to say with a straight face that this transaction would in fact weaken the commercial steel market,” David said.
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