Nippon and US Steel Take Legal Action to Rescue Blocked Merger

Nippon Steel Corp. and United States Steel Corp. have initiated legal action to revive their proposed mergers, which were halted last week by President Joe Biden. The two steel giants announced on Monday that they jointly filed a lawsuit in the U.S. Court of Appeals for the District of Columbia against Biden's decision.

Additionally, they filed a lawsuit in the U.S. District Court for the Western District of Pennsylvania. This legal action targets competitors Cleveland-Cliffs Inc., its CEO Lourenco Goncalves, and United Steelworkers Union President David McCall.

These lawsuits represent a significant fight against the blocking of Nippon Steel Corp. and United States Steel Corp.'s planned mergers. The halt decision made by President Biden last week prompted the companies to take these legal steps.

The companies announced their legal actions on Monday, stating that they filed lawsuits in both the U.S. Court of Appeals for the District of Columbia and the U.S. District Court for the Western District of Pennsylvania. The second lawsuit was filed against Cleveland-Cliffs Inc., CEO Lourenco Goncalves, and United Steelworkers Union President David McCall.

The companies aim to overturn the decisions preventing their mergers while also challenging their rivals and union leadership. The outcomes of these lawsuits will be closely watched, as they could have a significant impact on the future of both companies and the steel industry.