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Nippon Steel and U.S. Steel Sue Biden Administration Over Blocked Merger

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Merger,Steel Industry,Biden Administration

Nippon 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.

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“From the outset of the process, both Nippon Steel and U. S. Steel have engaged in good faith with all parties to underscore how the Transaction will enhance, not threaten, United States national security, including by revitalizing communities that rely on American steel, bolstering the American steel supply chain, and strengthening America’s domestic steel industry against the threat from China,” the companies said in a prepared statement Monday.

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