Biden killed US Steel deal even though some US officials rejected national security concerns
President Joe Biden decided to block the $14 billion takeover of US Steel by Japan’s Nippon Steel even though some top US officials did not believe there were sufficient national security grounds to kill the deal,
Why Biden cited national security concerns as he blocked a Japanese bid to buy U.S. Steel
President Biden said he would block the sale of one of America’s most iconic companies to a Japanese firm. In December 2023, Nippon Steel announced it would buy U.S. Steel for more than $14 billion. Nick Schifrin discussed the president's decision with David Wessel of the Brookings Institution and Sheila Smith of the Council on Foreign Relations.
Biden blocks U.S. Steel's sale to Nippon Steel over national security, supply chain risks
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.
Does Nippon Steel's bid to buy US Steel threaten national security? Experts weigh in
President Biden blocked Nippon Steel's acquisition of U.S. Steel citing national security concerns, a rationale which has drawn criticism from the companies and other observers.
Biden blocked US Steel and Nippon merger. The companies are now suing the US government
The lawsuit alleges that the Biden administration “ignored the rule of law” and rejected the merger to curry favor with the United Steelworkers union.
Nippon Steel, US Steel sue over blocked bid
The first lawsuit filed in the U.S. Court of Appeals for the District of Columbia Circuit claims the companies’ constitutional right to due process was violated.
Nippon, US Steel File Suit After Biden Administration Blocks $15 Billion Deal
Nippon Steel and U.S. Steel are filing a federal lawsuit challenging the Biden administration’s decision to block a proposed nearly $15 billion deal for Nippon to acquire Pittsburgh-based U.S. Steel
Nippon Steel and U.S. Steel file lawsuits over handling of blocked deal
Nippon Steel and U.S. Steel sued President Joe Biden on Monday over his decision to bar them from joining forces, alleging that he had violated their constitutional rights to due process in a corrupt bid to obtain political support for his reelection campaign.
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