UPDATE 1-Biden to express concern over Nippon Steel's deal for U.S. Steel, FT reports
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(Adds shares in para 2, background in para 3)
March 13 (Reuters) - U.S. President Joe Biden plans to express serious concern over Nippon Steel's proposed $14.9 billion purchase of U.S. Steel, the Financial Times reported on Wednesday.
Shares of U.S. Steel fell 7.3% in afternoon trade.
The White House said in December the deal needed to be carefully scrutinized given U.S. Steel's core role producing a material that is critical to national security. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Devika Syamnath)
