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

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Merger,Lawsuit,U.S. Steel

U.S. Steel and Nippon Steel filed lawsuits against President Biden's decision to block their proposed $15 billion merger, alleging political motivations and due process violations. The companies argue the deal would enhance, not threaten, U.S. national security. A separate lawsuit targets Cleveland-Cliffs CEO and U.S. Steelworkers President. The Biden administration maintains the acquisition could risk American national security and supply chains. Former President Trump also expressed his opinion against the sale.

U.S. Steel and Nippon Steel filed lawsuits on Monday over President Joe Biden's decision to stop the Japanese company's proposed nearly $15 billion takeover of its Pittsburgh-based rival. In a joint statement announcing the suit filed in the U.S. Court of Appeals for the District of Columbia the steel companies allege that Mr. Biden's Jan. 3 decision to block the deal was made for political reasons that violated their due process.'Both Nippon Steel and U. S.

President-elect Donald Trump weighed in as well, questioning the wisdom of the sale given his plans.'Why would they want to sell U.S. Steel now when tariffs will make it a much more profitable and valuable company? Wouldn't it be nice to have U.S. Steel, once the greatest company in the World, lead the charge toward greatness again? It can all happen very quickly!' he posted on his social media site, Truth Social.Yet industry experts question the U.S.

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