U.S. Steel and Japan’s Nippon Steel sued the Biden administration on Monday over its decision to block the merger of the two companies.
The companies filed the lawsuit in the U.S. Court of Appeals for the District of Columbia, accusing President Joe Biden of blocking the deal for political reasons rather than true national security concerns.
Biden said last week that the move was due to “credible evidence” that the purchase could threaten national security. Nippon had offered to acquire the company for $14.9 billion. The lawsuit alleges that Biden blocked the acquisition as a favor to union workers, which Biden courted heavily during the past election cycle.
“President Biden’s Order is the culmination of a months-long campaign to subvert and exploit the United States’ national security apparatus for the purpose of keeping a promise made by the President and his…
