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U.S. Steel, Nippon move court against Biden blocking $14.9 billion deal

01/06/2025

Less than a minute

2025.01.06 07:30

(Reuters) -U.S. Steel and Nippon Steel said on Monday they had filed two lawsuits after U.S. President Joe Biden blocked the $14.9 billion buyout of the American steelmaker by the Japanese company.

© Reuters. FILE PHOTO: Nippon Steel logo is displayed at the company's headquarters in Tokyo, Japan April 1, 2024. REUTERS/Issei Kato/File Photo

One lawsuit asked a court to set aside Biden’s order and the review process by a U.S. government panel.

The second lawsuit is against Cleveland-Cliffs (NYSE:), its CEO Lourenco Goncalves, and USW union President David McCall “for their illegal and coordinated actions” aimed at preventing the deal, U.S. Steel and Nippon Steel said.

01/06/2025

Less than a minute

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