Bloomberg Law
Steel Deal in Jeopardy & SBF's Ex-Girlfriend Sentencing
Sep 12, 2024
Rick Sofield, a partner at Debevoise & Plimpton and former CFIUS representative, discusses the political pushback against Nippon Steel’s $14.1 billion bid for U.S. Steel, focusing on national security concerns. Ava Benny-Morrison, a Bloomberg legal reporter, provides insights into Caroline Ellison's sentencing, emphasizing her plea for leniency due to her cooperation in a high-profile financial crime case. The conversation highlights the intricate balance between foreign investment regulations and legal repercussions for key financial figures.
30:18
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Quick takeaways
- President Biden's opposition to Nippon Steel's acquisition of U.S. Steel underscores the rising influence of politics in foreign investment reviews.
- Concerns over due process in the CFIUS review process could lead to significant legal challenges affecting its future authority and operations.
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