U.S. Steel and Nippon Sue Biden Administration Over Blocked Merger

U.S. President Joe Biden unlawfully blocked Nippon Steel’s $14.9 billion bid for U.S. Steel through a sham national security review, the companies alleged in a lawsuit filed on Monday.

The companies want a federal appeals court to overturn Biden’s decision to scuttle the deal so they can secure another shot at approval through a fresh national security review unfettered by political influence.

Read more at Reuters.