The United States Steel Corporation filed two joint lawsuits with Nippon Steel after President Joe Biden blocked the Japanese corporation from acquiring the iconic American company.
The lawsuits target the Biden administration for blocking the acquisition as well as the United Steelworkers (USW) and the Ohio-based Cleveland-Cliffs, which U.S. Steel and Nippon Steel allege illegally coordinated to tank the acquisition.
U.S. Steel and Nippon Steel allege that Biden stopped the acquisition to win favor with the USW even as he is an outgoing president. As a result, the lawsuits claim, the Committee on Foreign Investment in the United States (CFIUS) did not conduct a proper review process.
The second lawsuit claims Cleveland-Cliffs and the USW illegally colluded to block the acquisition.
Like Biden, President-elect Donald Trump vowed to
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