Nippon Steel, U.S. Steel file swimsuit towards Biden’s merger block

Nippon Steel and U.S. Steel filed fits on Monday over President Joe Biden’s block of the Japanese large’s proposed acquisition of its American rival, accusing the U.S. administration of “illegal interference” within the large transaction. 

The corporations mentioned in a press release that they collectively filed two lawsuits “to remedy the ongoing illegal interference with Nippon Steel’s acquisition of U.S. Steel,” accusing Biden of blocking the deal “for purely political reasons.” 

Source: CGTN