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Nippon, US Steel Sue Biden Order Blocking Acquisition
Mint Chennai
|January 07, 2025
US Steel and Nippon Steel have filed a lawsuit against US President Joe Biden's order that blocked the $14.9 billion buyout of the American steelmaker by the Japanese company, they said on Monday.
The lawsuit asked the court to set aside the review process of the Committee on Foreign Investment in the US and Biden's order, citing "violation of the Constitutional guarantee of due process and statutory procedural requirements, as well as unlawful political influence".
The case was filed in US Court of Appeals for the District of Columbia Circuit.
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