U.S. Steel, Nippon Steel blame Biden, Cleveland Cliffs and USW leadership for blocking deal
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.
To protect national security, the Committee on Foreign Investment in the United States (CFIUS) may review transactions involving foreign investment in US businesses. Parties to potentially covered ...
The steel makers want a federal court to junk the President's call to scrap the $14.9 billion merger, saying the national security concerns cited are groundless.
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