U.S. Steel, Nippon allege Biden violated constitution in lawsuit over blocked deal
U.S. President Joe Biden violated the Constitution by blocking Nippon Steel's $14.9 billion bid for U.S. Steel through a sham national security review, the companies alleged in a lawsuit they said was filed on Monday.
Nippon Steel, U.S. Steel sue Cleveland-Cliffs and others in move to keep deal alive
They also filed a lawsuit in federal court in Pittsburgh against rival steelmaker Cleveland-Cliffs Inc. and CEO Lourenco Goncalves, as well as United Steelworkers President David McCall, alleging coordinated anticompetitive and racketeering activities designed to allow only Cliffs to acquire U.S. Steel.
Opinion
It’s not too late to approve the Nippon Steel deal
The Nippon Steel acquisition is more than a simple transaction; it is a strategic investment in America’s future. Let’s not let politics or misplaced fears turn it into a missed opportunity.
‘A very bad signal’: What Biden’s U.S. Steel deal block means for foreign investment
“President Biden claiming Japan’s investment in an American steel company is a threat to national security is a pathetic and craven cave to special interests that will make America less prosperous and safe,” Furman wrote on X, the social media platform formerly known as Twitter. “I’m sorry to see him betraying our allies while abusing the law.”
What's next after Biden blocked the Nippon Steel/US Steel deal?
If the deal does not go through, Nippon Steel would have to pay a US$565 million break-up fee. Read more at straitstimes.com.
Opinion
Biden’s decision to block the US Steel sale would have made Harry Truman proud
Biden’s decision serves as a reminder, as the new president comes to power, of just how much a president can do under the broad and often vague umbrella of national security.
Biden kills U.S. Steel deal; what Trump said and what it means for Pennsylvania
U.S. Steel employs thousands across its plants and offices in Pennsylvania and the state has about 10% of the nation’s steelworkers.
Joe Biden's Shocking Decision to Block the Nippon Steel Deal
It was not shocking that the Committee on Foreign Investment in the United States sought to defer a decision on Nippon Steel’s $14 billion offer to acquire Pennsylvania’s U.S. Steel until after the November 5 presidential election.
Biden Rejects Nippon Steel's Proposed Deal to Acquire US Steel
President Joe Biden has rejected the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel
Biden blocks Japanese takeover of U.S. Steel
President Biden is blocking the proposed $14 billion acquisition of U.S. Steel by Nippon Steel. Fox - 10 Phoenix Fox - 10 Phoenix
Companies signal court fight ahead after Biden blocks U.S. Steel sale
The move comes after a year of political and economic drama. It leaves the future of the once-iconic American business in doubt.
National Security Committee Forgoes Decision on U.S. Steel Acquisition
The Committee on Foreign Investment in the United States kicked a decision over the merger with Japan’s Nippon Steel to ...
Biden will decide on U.S. Steel-Nippon Steel deal after panel fails to reach consensus on national security risk
A government panel has failed to reach consensus on the possible national security risks of a nearly $15 billion proposed ...
Rise of US Steel paralleled the arrival of the United States on the world stage
President Joe Biden blocked the $15 billion acquisition of U.S. Steel by Japan’s Nippon Steel — something he had first vowed to do in March ...
The Times of Northwest Indiana13d
Committee split on Nippon Steel acquisition of U.S. Steel, now up to president to decide
The Committee on Foreign Investment in the United States is reportedly split on whether Nippon Steel's $14.9 billion ...
Does Nippon Steel's bid to buy US Steel threaten national security? Experts weigh in
President Biden blocked Nippon Steel's acquisition of U.S. Steel citing national security concerns, a rationale which has ...
Why United States Steel Stock Crushed the Market Today
A dramatic improvement in the prospects for United States Steel (NYSE: X) being sold to a foreign buyer led to a rally in the ...