Biden to Decide on US Steel Takeover After Panel Deadlocks (2)

Nippon Steel Corp.’s proposed $12.3 billion acquisition of US Steel Corp. moved a step closer to being blocked after a US national security panel deadlocked on its review and left the final decision with President Joe Biden, who has repeatedly indicated his opposition to the deal.

The case was referred by the Committee on Foreign Investment in the United States to Biden’s desk Monday, which was the deadline, according to people familiar with the matter. The proponents were notified that the panel was unable to reach consensus.

The president is said to still be planning on blocking it, ...