22 sources·Business

U.S. Steel and Nippon Steel Sue Biden Administration Over Blocked Merger

U.S. Steel and Nippon Steel have filed lawsuits against the Biden administration, alleging political bias in the decision that blocked their merger.

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Updated: Jan 6th, 2025, 7:36 PM ET

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U.S. Steel and Nippon Steel filed lawsuits against the Biden administration after their $15 billion merger was blocked, claiming the decision was politically motivated and prejudiced. They assert their right to a fair review was violated, and argue that the merger would strengthen U.S. national security. Additionally, they accuse rival Cleveland-Cliffs and the United Steelworkers union president of engaging in anticompetitive practices to thwart the deal. Biden defended the block, citing concerns over national security and the need for a domestically controlled steel industry.

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