Biden killed US Steel deal even though some US officials rejected national security concerns
President Joe Biden decided to block the $14 billion takeover of US Steel by Japan’s Nippon Steel even though some top US officials did not believe there were sufficient national security grounds to kill the deal,
U.S. Steel, Nippon Steel Challenge Biden Decision to Kill $14.1 Billion Deal
The companies accuse the president, head of steelworkers union and Cleveland-Cliffs CEO of teaming up to block the transaction.
Nippon, US Steel file suit against Biden administration, union, and rival after $15B deal scuttled
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.
US Steel, Nippon sue Biden over move to block $14B deal: ‘Shameful and corrupt’
The lawsuit, filed in a federal court in Washington, accused Biden and senior administration officials of corrupting the deal’s review process, and harming American steel workers by blocking the
U.S. Steel and Nippon Sue Biden Over Decision to Block Merger
U.S. Steel and Japan’s Nippon Steel sued the United States government on Monday in a last-ditch attempt to revive their attempted merger after President Biden blocked it last week on the basis that the transaction posed a threat to national security.
U.S. Steel, Nippon Steel blame Biden, Cleveland Cliffs and USW leadership for blocking deal
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.
Nippon Steel and U.S. Steel file lawsuits over handling of blocked deal
Nippon Steel and U.S. Steel sued President Joe Biden on Monday over his decision to bar them from joining forces, alleging that he had violated their constitutional rights to due process in a corrupt bid to obtain political support for his reelection campaign.
Nippon Steel, US Steel sue Biden over blocked $15B merger
(CN) — Nippon Steel and U.S. Steel sued President Joe Biden and steelmaking competitors on Monday over Biden’s decision to block a proposed $14.9 billion merger between the two companies.
Nippon, US Steel file lawsuit against Biden administration
Nippon Steel and US Steel have filed a federal lawsuit challenging the Biden administration’s decision to block a proposed $15bn acquisition of US Steel by Nippon Steel, a move that could have significantly reshaped the US steel industry.
US Steel, Nippon Steel Sue US Government Over Blocked $14.1B Deal
U.S. Steel and Nippon Steel said Monday they are suing the U.S. government over President Joe Biden’s blocking last week of the $14.1 billion sale of the iconic American company to the Japanese firm on national security grounds.
Nippon Steel, US Steel sue over blocked bid
The first lawsuit filed in the U.S. Court of Appeals for the District of Columbia Circuit claims the companies’ constitutional right to due process was violated.
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Nippon Steel, US Steel slam US Government’s block on acquisition
Nippon Steel and US Steel have expressed their disappointment over the US Government’s decision to block their proposed ...
U.S. Steel and the Corruption of Cfius
Biden blocks Nippon Steel’s investment bid in an act of American economic masochism.
CFIUS Review of Acquisitions and Investments
To protect national security, the Committee on Foreign Investment in the United States (CFIUS) may review transactions involving foreign investment in US businesses. Parties to potentially covered ...
Biden to block $14.9B US Steel sale to Japanese buyer: report
The Committee on Foreign Investment in the United States (CFIUS) spent months reviewing the deal for national security risks but referred the decision to Biden in December, after failing to reach ...