US Steel: two lawsuits against Nippon Steel

(CercleFinance.com) - Nippon Steel and US Steel announce that they are filing lawsuits in response to the unwarranted interference with the proposed acquisition of the latter by the former, following Joe Biden's recent decision to block the deal.
NB: pmt +4.2%.

A first lawsuit, filed in the US Court of Appeals for the District of Columbia Circuit, asks him to reverse the CFIUS (Committee on Foreign Investment in the United States) review process and the blocking order.

A second is being filed in the US District Court for the Western District of Pennsylvania against Cleveland-Cliffs, Cliffs CEO Lourenco Goncalves and USW President David McCall for their actions to prevent the transaction.

Confident that they have a strong case to make, the two steel groups say they will rightly complete the transaction and return $55 per share to US Steel shareholders.


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