FILE - This is a portion of US Steel's Edgar Thomson Works in Braddock, Pa., on Sunday, Apr., 28, 2024.
The suit, filed Monday in the U.S. Court of Appeals for the District of Columbia, alleges that it was a political decision and violated the companies' due process. Nippon Steel had promised to invest $2.7 billion in U.S. Steel’s aging blast furnace operations in Gary, Indiana, and Pennsylvania’s Mon Valley. It also vowed not to reduce production capacity in the United States over the next decade without first getting U.S. government approval.
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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.
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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.
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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.
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US Steel, 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. The companies argue the decision was politically motivated and violated their due process rights. They claim the merger would benefit U.S. national security by revitalizing communities, bolstering the steel supply chain, and strengthening the domestic industry against China. Nippon Steel had pledged to invest $2.7 billion in U.S. Steel's aging operations.
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Nippon Steel to Sue US Government Over Blocked US Steel AcquisitionNippon Steel has announced plans to sue the US government after President Biden blocked their acquisition of US Steel, citing national security concerns. Nippon Steel claims the decision violates due process and was politically motivated. The deal, announced in December 2023, faced immediate political debate and pressure from steelworkers worried about job losses.
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Nippon Steel Extends US Steel Acquisition Deadline as Biden Weighs BlockNippon Steel has pushed back the closing date for its acquisition of U.S. Steel to the first quarter of 2025, from a previous target of late 2024. The decision comes as President Joe Biden considers whether to block the deal, citing concerns about foreign ownership of the company.
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