Mon Jan 06 14:23:52 UTC 2025: ## Biden Administration Sued Over Blocked Steel Merger
**Washington, D.C. –** Nippon Steel and U.S. Steel have filed a lawsuit against the Biden administration, challenging the president’s decision to block Nippon’s nearly $15 billion acquisition of U.S. Steel. The suit, filed Monday in the U.S. Court of Appeals for the District of Columbia, claims the decision was politically motivated and violated their due process rights.
President Biden blocked the deal on Friday, citing national security concerns and emphasizing the importance of a strong, domestically-owned steel industry. Nippon Steel had pledged significant investments in U.S. Steel’s operations and committed to maintaining U.S. production capacity. This marks the first time a U.S. president has blocked a merger between a U.S. and Japanese company.
The Committee on Foreign Investment in the United States (CFIUS) failed to reach a consensus on the deal’s potential national security implications, prompting President Biden’s intervention. The lawsuit comes as President Biden prepares to leave office in a few weeks.
First Piper 