Suspension of executive order until 18 June gives courts time to review steelmakers’ legal challenge

The Biden administration has delayed until June an order for Nippon Steel to abandon its $14.9bn bid for US Steel, potentially giving the companies some time to revive the politically contentious deal.

Joe Biden blocked the acquisition on national security grounds on 3 January and the treasury secretary, Janet Yellen, said this week the proposed deal had received a “thorough analysis” by the Committee on Foreign Investment in the United States (CFIUS).