Nippon Steel and US Steel File Lawsuits Against Biden’s Block of Acquisition

Nippon Steel and US Steel have taken legal action against President Joe Biden’s decision to block Nippon Steel’s proposed acquisition of US Steel. The two companies are challenging the move, claiming that the Biden administration’s intervention is both unlawful and unjustified.

In a joint statement, the companies announced the filing of two lawsuits, arguing that the president’s actions represent “unlawful interference” with Nippon Steel’s acquisition of US Steel. They further asserted that the decision was politically motivated, lacking a proper legal foundation.