Biden face pressure from environmentalists to block steel merger, NY Times says

President Biden is facing new pressure to block Nippon Steel’s (NPSCY) acquisition of U.S. Steel (X), now with environmental groups arguing the merger would push back America’s efforts to curb climate change, Jim Tankersley of The New York Times reports. Activists have argued the merger would bring together two companies that are slow to transitioning away from fossil fuels. In a joint statement, the companies claimed the deal would create a “stronger, more competitive global company” and the companies “recognize that solving sustainability challenges is a fundamental pillar of… growth,” according to the Times.