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US Steel, Nippon Steel sue Biden administration over merger block

( January 6, 2025, 13:45 GMT | Official Statement) -- MLex Summary: US Steel and Nippon Steel have sued the Biden administration over the president's block of their proposed merger. The companies said Biden and the Committee on Foreign Investment in the United States, or CFIUS, are in violation of the constitutional due process and statutory rights of the companies. In a filing with the US Securities and Exchange Commission, the companies cited "CFIUS’s failure to review the Merger on national security grounds; and the President of the United States’ subsequent order blocking it for purely political reasons which are irrelevant to, and are to the detriment of, United States national security."Extract....

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