Nippon Steel and US Steel say they have jointly filed a lawsuit against the United States government over President Joe Biden's decision to block the takeover of the American firm.
The companies are challenging that move, calling it unlawful political interference.
They're also seeking a review of the deal by the Committee on Foreign Investment in the United States.
Both steelmakers agreed on the takeover in December 2023. The CFIUS reviewed the deal, but failed to reach a consensus.
It was then referred to Biden, who blocked the acquisition on Friday, citing national security concerns.
Nippon Steel will hold a news conference detailing their case Tuesday.
The companies are challenging that move, calling it unlawful political interference.
They're also seeking a review of the deal by the Committee on Foreign Investment in the United States.
Both steelmakers agreed on the takeover in December 2023. The CFIUS reviewed the deal, but failed to reach a consensus.
It was then referred to Biden, who blocked the acquisition on Friday, citing national security concerns.
Nippon Steel will hold a news conference detailing their case Tuesday.
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Summary
Nippon Steel and US Steel have filed a lawsuit against the U.S. government, challenging President Joe Biden's decision to block their takeover deal in January 2023 due to national security concerns. The companies allege unlawful political interference and seek a review by the Committee on Foreign
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ID: 41568345-788f-484a-82b0-1f73ed9d955a
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20250107_01/
Date: Jan. 7, 2025
Created: 2025/01/07 07:00
Updated: 2025/12/08 07:21
Last Read: 2025/01/07 07:59