News Summary

• Chaired by Treasury Secretary Janet Yellen, the CFIUS screens business deals between U.S. firms and foreign investors and can block sales or force parties to change the terms of an agreement for the purpose of protecting national security..
• In September, President Biden issued an executive order that expands the factors that the committee should consider when reviewing deals — such as how the deal impacts the U.S. supply chain or risks to Americans’ sensitive personal data..
• U.S. Steel, the Pittsburgh steel producer that played a key role in the nation’s industrialization, is being acquired by Nippon Steel in an all-cash deal valued at approximately $14.1 billion..
• U.S. Steel is being acquired by Nippon Steel in an all-cash deal valued at approximately $14.1 billion..
• The committee’s powers were significantly expanded in 2018 through an act of Congress called the Foreign Investment Risk Review Modernization Act, known as FIRRMA..
• The combined company will be among the top three steel-producing companies in the world, according to 2022 figures from the World Steel Association..