US President Joe Biden is making ready to dam the Nippon Metal acquisition of U.S. Metal, sources inform the Washington Publish.
Shares of US Metal (X) fell about 6% earlier than being halted.
It is not clear precisely how Biden may block a deal however shares traded at $22 earlier than the takeover rumors began a 12 months in the past. Fellow metal corporations are down round 25% since that point as properly, so it may very well be a fast journey to $16 or decrease.
This appears like a volatility halt, not information pending so it ought to resume buying and selling quickly.
The query now could be how Japan responds.
