US Steel and Nippon Steel sue Biden administration over blocked merger
U.S. Steel and Japan-based Nippon Steel sued the Biden administration on Monday over a decision made last week to block a merger between the two companies.
A proposed $14 trillion acquisition of the second-largest domestic steel producer by Nippon would threaten U.S. national security, the Biden administration said.
The two companies allege in their lawsuit that election-season political considerations undermined formal government review of the merger.
This is a developing story. Please check back for updates.
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U.S. Steel and Japan-based Nippon Steel sued the Biden administration on Monday over a decision made last week to block a merger between the two companies.
A proposed $14 trillion acquisition of the second-largest domestic steel producer by Nippon would threaten U.S. national security, the Biden administration said.
The two companies allege in their lawsuit that election-season political considerations undermined formal government review of the merger.
This is a developing story. Please check back for updates.
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