Nippon Steel (NPSCY) plans to file a lawsuit against the U.S. after the government decided to block its acquisition of U.S. Steel (X), Nikkei Asia reports. Nippon plans to contest the appropriateness of the procedures used by U.S. President Joe Biden to order the suspension of the deal, according to the report.
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Read More on X:
- Nippon Steel, U.S. Steel ‘condemn’ U.S. government’s decision to block deal
- Nippon Steel: Biden decision a ‘clear violation’ of due process
- Nippon Steel: Process ‘manipulated’ to advance Biden’s political agenda
- Nippon Steel: Left with ‘no choice but to take action to protect’ rights
- USW says ‘several other parties’ were interested in U.S. Steel last year