U.S. Steel and Nippon Steel Sue U.S. Government Over Blocked Merger - PRESS AI WORLD
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U.S. Steel and Nippon Steel Sue U.S. Government Over Blocked Merger

share-iconMonday, January 06 comment-icon3 weeks ago 11 views
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U.S. Steel and Nippon Steel Sue U.S. Government Over Blocked Merger

Credited from: SALON

  • U.S. Steel and Japan's Nippon Steel have initiated a lawsuit against the U.S. government following the blockage of their $14.9 billion merger.
  • The lawsuit, filed in federal court, claims that President Joe Biden and his administration are engaging in political maneuvering during the review process.
  • Biden justified his decision by emphasizing the need for a strong domestic steel industry, citing potential national security risks.
  • The companies argue that Biden's previous statements indicated a pre-determined outcome in the review process.
  • They are seeking a reevaluation by the Committee on Foreign Investment, alongside a second lawsuit alleging unlawful actions by Cleveland-Cliffs.

For more details, visit the original article.

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Atlas Winston

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