U.S. Steel And Nippon Sue Biden Over Blocked $14B Deal, Calling It ‘Corrupt and Shameful’
On January 6, 2025, the logo of Nippon Steel, Japan's largest steel manufacturer, is displayed in front of its headquarters in Tokyo. Japanese Prime Minister Shigeru Ishiba on January 6 asked US President Joe Biden to clarify why he blocked a controversial $14.9 billion funding package. Nippon Steel's agreement to acquire US Steel. (Photo courtesy […]
Biden’s Decision To Block US Steel Deal Sparks Lawsuits, Backlash From Japan
The Biden administration's decision to terminate the U.S. Steel acquisition triggered multiple lawsuits and a backlash from Japan. President Joe Biden has blocked a roughly $15 billion takeover bid from Japan's Nippon Steel. sick steel manufacturer friday, are discussing The deal posed a threat to U.S. national security and supply chain resilience. The decision sparked […]
US Steel, Nippon sue Biden over move to block $14B merger
U.S. Steel and Nippon Steel sued the U.S. government on Monday to revive their $14 billion merger after President Biden blocked the deal last week. The CEO of U.S. Steel called. It's a “shameful” capitulation to union leaders. The lawsuit, filed in federal court in Washington, accuses Biden and administration officials of corrupting the deal […]
Nippon Steel and US Steel sue Biden administration over blocked merger
U.S. Steel and Japanese steelmaker Nippon Steel filed a lawsuit against the U.S. government on Monday in a last-ditch effort to move forward with integration, but President Biden blocked the lawsuit on Friday, citing national security concerns. A new lawsuit accuses Biden of intervening in the merger review process for political gain and trying to […]
Nippon Steel says it’s suing Biden admin for blocking US Steel acquisition
U.S. Steel and Nippon Steel announced that they will file a joint lawsuit against the U.S. government and other parties in response to President Biden's move to block the agreement. FOX Business' Lydia Hu has more. Nippon Steel and US Steel Biden administration's The move is to block a roughly $15 billion deal in which […]
Rival CEO spread doubt about Nippon Steel deal prospects to Wall Street, documents allege
WASHINGTON—Nippon Steel Corp. faced skepticism about the Biden administration's $14.9 billion bid to buy U.S. Steel, while also battling headwinds from unforeseen sources. The CEOs of the company's rival bidders had repeatedly questioned the prospects for the deal. To all investors. Lourenco Goncalves, CEO of Cleveland-Cliffs, the steelmaker whose $7 billion takeover bid for U.S. […]
In Victory for Trump, Japanese Company Blocked from Buying U.S. Steel
President Joe Biden has blocked the acquisition of the U.S. Steel Corporation by Japan's Nippon Steel. It was a victory for President-elect Donald Trump, who had vowed to take action himself if President Biden did not take over. On Friday, Biden announced He would use the Defense Production Act of 1950 to block Nippon Steel's […]
US Steel CEO rips Biden's 'shameful' move blocking sale
U.S. Steel's president and CEO said in a statement Friday afternoon that President Biden's decision to block the company's acquisition by Japanese company Nippon Steel is “shameful” and “corrupt.” he declared. “President Biden’s actions today are shameful and corrupt. He is harming the future of our company, our employees, and our national security while offering […]
Biden says he will block US Steel sale to Nippon Steel
President Biden announced Friday that he would block the sale of U.S. Steel to Japanese-owned Nippon Steel after a year of studying the potential deal. “To continue leading the fight on behalf of America's national interests, we need America's largest companies, which account for a major share of America's steel production capacity,” Biden said in […]
Stock Market Today: Dow, S&P 500, Nasdaq Up; U.S. Steel, Apple, Tesla, More Movers – Barron's
Buying on the spur of the moment will be the name of the game on Friday, as stock traders buy everything from energy stocks to financials to utilities. The S&P 500 rose 0.7%, with all sectors within the index gaining. The Dow rose 186 points, or 0.4%, and the Nasdaq rose 1%. Typically, as riskier […]