This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Nippon Steel seeks injunction against Cleveland-Cliffs' alleged scheme to block merger

( January 6, 2025, 20:07 GMT | Official Statement) -- MLex Summary: US Steel Corp, Nippon Steel Corp and Nippon Steel North America filed a motion for a preliminary injunction asking a Pennsylvania federal court for an order prohibiting an allegedly unlawful agreement between Cleveland-Cliffs Inc., CEO Lourenco Goncalves, and David McCall, President of the United Steel Works union. Defendants agreed to support an acquisition of US Steel only by Cliffs in order to seek to force US Steel to acquiesce to such an acquisition and to thwart a proposed $14.9 billion merger between US Steel and Nippon Steel, the motion alleged. "President Biden’s recent Executive Order blocking the Merger does not put an end to Defendants’ conspiracy. The public interest demands that U.S. Steel be allowed to seek out the full panoply of alternatives to strengthen its competitive position, rather than being forced to contend with an unlawful agreement that materially limits its strategic options," the motion said.See attached document...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login