Nippon Steel CEO Eiji Hashimoto reaffirmed the company's commitment to its proposed $15 billion acquisition of U.S. Steel, stating there is 'no reason or need to give up'. Hashimoto emphasized that the deal is 'clearly beneficial for both nations' and acknowledged the process may take time. He highlighted the recent legal action taken by both companies in the U.S. as a significant development in the process. The steelmakers filed separate lawsuits in the U.S.
Court of Appeals for the District of Columbia and the U.S. District Court for the Western District of Pennsylvania, challenging the Biden administration's move to block the acquisition. They argue that the merger will 'enhance, not threaten, United States national security.
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