A rose isn’t a rose

There’s little economic reason for the US to care about Evraz’s $3.2bn takeover of Oregon Steel Mills. And the legal grounds for intervention appear weak. But this smallish deal could easily assume larger symbolic significance in the US. If it does, it could be in trouble. The battleground is the Committee on Foreign Investments in the US (CFIUS). While it can recommend the President block deals if they threaten the national or economic security of the US, the Evraz takeover does neither. Steel...