By Kevin Buckland and Kiyoshi Takenaka TOKYO (Reuters) -Japan Prime Minister Shigeru Ishiba asked U.S. President Joe Biden to allay concerns in the Japanese and U.S. business communities over the status of Nippon Steel's planned acquisition of U.

Japanese Prime Minister Shigeru Ishiba told US President Joe Biden that “strong” concerns have been raised over his decision to block Nippon

The companies condemned the president's decision and hinted at taking legal action, while U.S. Steel's CEO accused Biden of "political corruption."

Japan Prime Minister Shigeru Ishiba asked U.S. President Joe Biden to allay concerns in the Japanese and U.S. business community over the status of Nippon Steel's planned acquisition of U.S. Steel, Jiji news agency said on Monday.

The president said he was moving to protect national security in deciding the fate of the iconic Pennsylvania-based company, which became a contentious political issue in an election year.

The Biden administration delayed until June an order for Nippon Steel to abandon its $14.9 billion bid for U.S. Steel , the companies said on Saturday, giving them some time to revive the politically contentious deal.

The U.S. steelmaker said a federal interagency panel had granted an extension to June 18 for the requirement in President Biden’s executive order that the parties permanently abandon the transaction.

The Biden administration has decided to delay enforcing an executive order requiring Nippon Steel to withdraw its $14.9 billion bid for U.S. Steel. In a statement on Saturday, U.S. Steel revealed that the parties now

Nippon Steel shares closed down 0.75% at 3,158 yen ($20.03) on Monday, compared with a 1% fall in broader Topix index. They settled at 3,182 yen on Dec. 30, the final trading day of 2024 on the Tokyo Stock Exchange, which was closed for the remainder of last week for the New Year holiday.