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The European Union authorised Japan's Nippon Steel's $14 billion takeover of major American manufacturer US Steel, which US President Joe Biden had opposed.
The European Commission, the EU's powerful antitrust watchdog, "concluded that the notified transaction would not raise competition concerns," according to a statement.
Nippon Steel revealed the acquisition plan in December 2023, and it has since gained controversy in the run-up to the US presidential election in November.
Earlier this year, Biden expressed his opposition to the agreement, arguing that US Steel needed to "remain an American steel company that is domestically owned and operated."
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