Nippon Steel has path to growth without U.S. Steel, analysts say

TOKYO — Though President Joe Biden issued an order halting Nippon Steel’s $14.9 billion bid for U.S. Steel, the Japanese steelmaker still has a way forward to achieve growth without the acquisition, market analysts say.

Nippon Steel has responded to the setback by filing lawsuits against Biden and other parties. But investors already were wary of the purchase due to the large amount of money required. There also were concerns about fundraising risks and post-acquisition business operations.