“Nippon Steel Corp. and United States Steel Corp. jointly filed lawsuits in a last-ditch effort to save a planned merger that President Joe Biden blocked last week.”, — write: epravda.com.ua
Nippon Steel Corp. and United States Steel Corp. jointly filed lawsuits in a last-ditch effort to save a planned merger that President Joe Biden blocked last week. Bloomberg writes about it. The companies said in a joint statement on Monday that they filed a lawsuit in the District of Columbia Court of Appeals challenging Biden’s decision and what they say was the US Committee on Foreign Investment’s failure to review the deal for national security reasons. They also filed a lawsuit in the U.S. District Court for the Western District of Pennsylvania against rival U.S. steelmaker Cleveland-Cliffs Inc., Cliffs CEO Lourenco Goncalves and U.S. Steel President David McCall. Advertisement: “Both Nippon Steel and US Steel have cooperated in good faith with all by the parties to emphasize that this agreement will enhance, not threaten, the national security of the United States States,” the companies said in a statement. “Today’s legal actions demonstrate the continued commitment of Nippon Steel and US Steel to the completion of the Agreement.” We note that shares of US Steel rose by 4% in previous trading in New York. We will remind:Advertisement: Nippon Steel President Tadashi Imai said that filing a lawsuit against the US government is one of the “important options” after President Joe Biden blocked the proposed purchase of US Steel.