The yearlong campaign by the Japanese steelmaker for a $14.1 billion deal crashed against opposition to foreign ownership from political leaders and the United Steelworkers union.

US President Joe Biden has formally blocked the takeover of US Steel by a bigger Japanese company, saying foreign ownership could pose risks for national security. The controversial decision comes a year after Nippon Steel first announced the $14.9bn (£12bn) deal, describing it as a lifeline for its smaller Pennsylvania-based rival.