Nippon Steel bid for US Steel faces Sept 23 review deadline

WASHINGTON, Sept 15 (Reuters): A powerful US national security panel reviewing Nippon Steel's $14.9 billion bid for US Steel faces a Sept. 23 deadline to recommend whether the White House should block the deal, two people familiar with the matter said.

The Committee on Foreign Investment in the United States has until that day to complete its second 90-day review of the Japanese company's proposed takeover of US Steel, the people said, declining to be named because the matter was not public. On that date, CFIUS officials could grant a request by the companies to extend the review another 90 days, which would defer the politically sensitive decision until after the Nov. 5 election.