Nippon Steel, US Steel file lawsuit against US government

Jan 07 (News On Japan) - Nippon Steel and US Steel say they have jointly filed a lawsuit against the United States government over President Joe Biden's decision to block the takeover of the American firm.

The companies are challenging that move, calling it unlawful political interference.

They're also seeking a review of the deal by the Committee on Foreign Investment in the United States.

Both steelmakers agreed on the takeover in December 2023. The CFIUS reviewed the deal, but failed to reach a consensus.

It was then referred to Biden, who blocked the acquisition on Friday, citing national security concerns.

Nippon Steel will hold a news conference detailing their case Tuesday.

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