Separate lawsuits from Nippon Steel and U.S. Steel target President Joe Biden as well as a steelworkers union head and a rival steelmaker’s CEO.
President-elect Trump has also opposed Nippon Steel's $15 billion acquisition of U.S. Steel, which President Biden blocked last week.
U.S. Steel and the Japanese firm that had sought to acquire it are suing the Biden administration after the president announced he was blocking a proposed deal for the iconic American manufacturer.
The companies argued in a lawsuit announced on Monday that Biden violated the Constitution by blocking the merger via a sham national security review that deprived the companies of their right to a fair process.
In dual lawsuits filed Jan. 6, U.S. Steel Corp. and Nippon Steel Corp. blame the Biden administration's politicizing its national-security review as well as the behind-the-scenes actions by rival Cleveland-Cliffs Inc. and United Steelworkers International President David McCall for scuttling the $14.9 billion deal.
President Joe Biden officially announced on Friday he has blocked Nippon Steel's $14.1 billion purchase of U.S. Steel, setting up a likely federal court battle.
U.S. Treasury Secretary Janet Yellen said on Wednesday that Nippon Steel's planned acquisition of U.S. Steel received a "thorough analysis" by an interagency review body that was sent to President Joe Biden,
By blocking a Japanese company’s takeover of U.S. Steel, President Joe Biden said he was protecting good jobs in the American heartland. In making its nearly $15 billion bid for the storied Pittsburgh-based steelmaker,
President Joe Biden last week capitulated to uneconomic thinking by blocking Nippon Steel’s purchase of U.S. Steel. That decision will ultimately harm Minnesota’s Iron Range. U.S. Steel operates two of the iron ore mines in northeast Minnesota,
A 123-year-old steelmaker’s fate could yet become a restraint on modern-day executive power. United States Steel and suitor Nippon Steel have gone to court over U.S. President Joe Biden’s decision to nix their $15 billion deal.
The blocked merger between Nippon Steel and U.S. Steel has entered legal proceedings, following intervention by President Joe Biden. Treasury Secretary Janet Yellen stated that the Committee on Foreign Investment in the United States (CFIUS) conducted a thorough analysis before advising the President,