Nippon Steel and US Steel take Biden to court after the president blocks US$15 billion merger, claiming that the acquisition by the Japanese company threatens US national security
Nippon Steel and US Steel filed two lawsuits in the United States after the proposed merger between the companies was blocked by President Joe Biden.
In a statement released this Monday (6), the companies stated that the first action calls for Biden’s decision to be annulled due to “illegal political interference” in the process.
The second lawsuit was filed against David McCall, president of the United Steelworkers union, and Lourenco Goncalves, CEO of the steel company Cleveland-Cliffs, alleging “illegal and coordinated actions designed to prevent the transaction.”
“Today’s legal actions demonstrate Nippon Steel and US Steel’s continued commitment to completing the transaction,” the companies said in the statement.
In an order issued Friday blocking the deal, Biden said there was “credible evidence” that through the acquisition, Nippon could take steps that would harm the security of the United States.
Cleveland-Cliffs, a competing steel company in the US, has made an offer to acquire US Steel in 2023.
Cleveland-Cliffs and the USW union did not immediately respond to requests for comment.
With information from Financial Times*
Source: https://www.ocafezinho.com/2025/01/06/gigantes-do-aco-declaram-guerra-judicial-contra-bloqueio-de-biden/
