Nippon Steel on Thursday delayed the closing date for its proposed $14.9 billion purchase of U.S. Steel, as it waits to learn if President Biden will block the deal on national security grounds. Why it matters: The Japanese steelmaker is trying to play nice with the White House,

Japan's Nippon Steel said on Thursday it has extended the closing date for its $14.9 billion purchase of U.S. Steel as U.S. President Joe Biden weighs whether to block a deal that has faced intense opposition since it was announced.

The Committee on Foreign Investment in the United States said letting Nippon Steel buy the company could lead to a reduction in domestic steel output.

A powerful government panel has failed to reach consensus on the possible national security risks of a nearly $15 billion proposed deal for Nippon Steel of Japan to purchase U.S. Steel

President Joe Biden is set to decide the fate of U.S. Steel after a national security committee failed to reach a consensus on whether it could be purchased by a Japanese company.

The proponents were notified that the panel was unable to reach consensus. The president is said to still be planning on blocking it, though the White House has never said flatly that he would. He has 15 days from the referral to announce a decision and has repeatedly said U.