The president-elect’s opposition to the deal undermines his claims to helping the working-class voters who elected him.
U.S. Steel and the Japanese firm that had sought to acquire it are suing the Biden administration after the president announced he was blocking a proposed deal for the iconic American manufacturer.
By blocking the U.S. Steel deal, Joe Biden showed he’s a Donald Trump mini-me on protectionism.
President Biden blocked the deal between Nippon and U.S. Steel earlier this month due to "national security" concerns.
The companies argued in a lawsuit announced on Monday that Biden violated the Constitution by blocking the merger via a sham national security review that deprived the companies of their right to a fair process.
President Joe Biden has rejected the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel.
President Joe Biden officially announced on Friday he has blocked Nippon Steel's $14.1 billion purchase of U.S. Steel, setting up a likely federal court battle.
U.S. Steel and Nippon Steel said on Monday that it is suing over President Joe Biden's decision to block its sales agreement and a domestic competitor and union over their actions to scuttle the deal.
President Joe Biden on Friday announced his decision to block the $14 billion sale of U.S. Steel to Japan’s Nippon Steel, citing national security concerns. The move could have serious implications in Gary,
In dual lawsuits filed Jan. 6, U.S. Steel Corp. and Nippon Steel Corp. blame the Biden administration's politicizing its national-security review as well as the behind-the-scenes actions by rival Cleveland-Cliffs Inc. and United Steelworkers International President David McCall for scuttling the $14.9 billion deal.
Separate lawsuits from Nippon Steel and U.S. Steel target President Joe Biden as well as a steelworkers union head and a rival steelmaker’s CEO.
By blocking a Japanese company’s takeover of U.S. Steel, President Joe Biden said he was protecting good jobs in the American heartland. In making its nearly $15 billion bid for the storied Pittsburgh-based steelmaker,