Nippon Steel Corp. and U.S. Steel filed federal lawsuits Monday challenging the Biden administration’s decision as ignoring “the rule of law.”
The White House says President Joe Biden will establish two new national monuments in California that will honor Native American tribes.
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.
The steel companies allege White House decision to black takeover was political and violated their right to due process.
President Joe Biden on Friday announced his decision to block the $14 billion sale of U.S. Steel to Japan’s Nippon Steel, citing national security concerns. The move could have serious implications in Gary,
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.
Japan’s Nippon Steel emphasized that it is not giving up on its takeover of U.S. Steel, a day after suing the Joe Biden administration over blocking the proposed merger.
The companies condemned the president's decision and hinted at taking legal action, while U.S. Steel's CEO accused Biden of "political corruption."
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,
Japan’s largest steelmaker said that it would not give up trying to purchase U.S. Steel even after President Joe Biden blocked the $15 billion bid last week.
By blocking the U.S. Steel deal, Joe Biden showed he’s a Donald Trump mini-me on protectionism.