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US Steel (X) shares are rising by as high as 11% after the Japanese-owned Nippon Steel (NPSCY, 5401.T) submitted a new buyout proposal to the Biden administration, according to the Washington Post. After the Committee on Foreign Investment in the US (CFIUS) failed to reach a consensus on the deal, President Biden is now the deciding factor in whether to approve this deal or not.
Market Domination hosts Julie Hyman and Jared Blikre explain the new terms offered by Nippon Steel.
Catch former congressman and host of Yahoo Finance's Warrior Money podcast, Patrick Murphy, share his opinion as to why Biden should approve the deal by clicking here.
To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
This post was written by Luke Carberry Mogan.