Litigation for the merger of Nippon Steel and U.S. Steel has been initiated

Nippon Steel and U.S. Steel have reiterated that the acquisition plan “does not threaten U.S. national security, but rather strengthens national security. What’s important is that a U.S. steel manufacturer that can compete with China will be born.”

Because former U.S. President Biden ordered the suspension of Nippon Steel’s acquisition of U.S. Steel, the two companies started a lawsuit against Biden and others on February 3, demanding the revocation of the suspension order. The two companies jointly submitted written materials prepared by the plaintiff on the same day. The materials detailed how Biden instructed the U.S. authorities to conduct a false review for political reasons.

The written materials have been submitted to the Federal Court of Appeals for the District of Columbia. The plaintiff and the defendant will make their claims in writing before March 17, and will conduct oral arguments if necessary.

Nippon Steel and U.S. Steel have reiterated that the acquisition plan “does not threaten U.S. national security, but rather strengthens national security. What’s important is that a U.S. steel manufacturer that can compete with China will be born.”

Nippon Steel filed a lawsuit in the U.S. federal court on January 6, suing Biden and the Committee on Foreign Investment in the United States (CFIUS). In addition, the president of the United Steelworkers (USW), rival Cleveland-Cliffs and its chief executive officer (CEO) were also sued for trying to block the takeover.