US Stock Market Move | US regulatory agencies reportedly agreed to allow Nippon Steel to resubmit its acquisition application. United States Steel Corporation (X.US) rose by 3.8% at one point.

On Wednesday, the stock price of United States Steel Corporation (X.US) rose by 3.8% at one point. At the time of writing, the stock had risen by 2.53%, reaching $37.155. On the news front, there has been a breakthrough in the United States Steel Corporation acquisition case, as the Committee on Foreign Investment in the United States (CFIUS) responsible for reviewing the deal has agreed to a resubmission of the merger application by Nippon Steel. Nippon Steel announced in December last year that it would acquire United States Steel Corporation for $14.9 billion. As per usual, this deal has been under review by CFIUS. CFIUS is a government inter-agency group led by the U.S. Department of the Treasury, primarily responsible for reviewing foreign investments in the United States for national security risks.