U.S. Steel, Nippon Steel Go to Court After Biden Blocks Deal

U.S. Steel and Nippon Steel are suing to challenge the Biden administration’s decision to block a proposed deal for the Japanese company to acquire the Pittsburgh based steelmaker for nearly $15 billion.

At the same time, the companies also filed suit in Pittsburgh on Monday against Cleveland-Cliffs Inc., the company’s CEO and union president, alleging that they are attempting to monopolize the steel market and undermine U.S. Steel’s vitality in an effort to acquire the company under distressed circumstances.

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