The Biden administration is facing lawsuits from U.S. Steel and Nippon Steel over the blocking of a $15 billion acquisition deal. The companies allege that the Biden administration, in coordination with the United Steelworkers (USW) and Cleveland-Cliffs, illegally sabotaged the deal to appease the USW. They claim that the Committee on Foreign Investment in the United States (CFIUS) did not conduct a proper review process. The proposed acquisition, reported in 2023, would have seen U.S.
Steel sold to Nippon Steel. U.S. Steel, founded in 1901 by Andrew Carnegie, J.P. Morgan, and Charles Schwab, played a crucial role in World War II as a key supplier for the U.S. Armed Forces. They attempted to engage former Secretary of State Mike Pompeo to lobby both the Trump and Biden administrations to reconsider their stance on the acquisition, but the effort was unsuccessful
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Nippon Steel may sue US government over Biden’s decision to block US Steel acquisitionNippon Steel, whose multibillion-dollar proposal to buy struggling US Steel was blocked by President Joe Biden last week, says it is considering taking legal action against the US government.
La source: cnni - 🏆 326. / 59 Lire la suite »
US Steel and Nippon Steel sue Biden over move to block mergerPolitical News and Conservative Analysis About Congress, the President, and the Federal Government
La source: dcexaminer - 🏆 6. / 94 Lire la suite »
US Steel and Nippon Steel Sue Biden to Overturn $15 Billion Merger BlockU.S. Steel and its would-be Japanese suitor Nippon Steel have filed lawsuits to defend their $15 billion merger after President Biden blocked the deal citing national security concerns. The companies accuse Biden of violating their due process rights and interfering with a good-faith regulatory review, alleging his opposition was politically motivated to appease the steelworkers' union. A separate lawsuit targets the steelworkers union and a rival steelmaking company, Cleveland Cliffs, accusing them of attempting to monopolize the domestic steel market.
La source: NPR - 🏆 96. / 63 Lire la suite »
U.S. Steel and Nippon Steel Sue Biden Administration Over Blocked MergerNippon Steel and U.S. Steel are challenging the Biden administration's decision to block their proposed $15 billion merger in a federal lawsuit.
La source: wjxt4 - 🏆 246. / 63 Lire la suite »
Nippon Steel and U.S. Steel Sue Biden Administration Over Blocked MergerNippon Steel and U.S. Steel are taking legal action against the Biden administration after their proposed $15 billion merger was blocked. The companies argue that the decision is politically motivated and harmful to American workers.
La source: AP - 🏆 728. / 51 Lire la suite »