Japan Steel stated on Thursday that it has extended the final deadline for acquiring United States Steel for $14.9 billion, changing it from the previously set third or fourth quarter of 2024 to the first quarter of 2025.

The United States foreign investment committee (CFIUS) has reportedly submitted a final assessment report to the White House, indicating that it was unable to reach a consensus on the national security risks involved in Japan Steel's acquisition of United States Steel. The report also raised concerns about allowing the acquisition or reducing domestic steel production, which involves national security risks. It will now be up to President Biden to decide whether to allow the acquisition, and he has 15 days to make a decision.