Us Steel and Nippon complain against bidens stop of the fusion

Us Steel and Nippon complain against bidens stop of the fusion

The merger between US Steel and Nippon Steel, which is rated with a remarkable volume of several billion dollars, was blocked by President Joe Biden last week. As a result of this decision, the two companies raised a lawsuit against the US government on Monday. They argue that bidens were signed for executive order that is supposed to prevent the merger of the companies for "purely political reasons".

reaction of the companies

In a joint explanation, the companies emphasized: "Today's legal steps illustrate the continued commitment of Nippon Steel and US Steel to handle the transaction despite political intervention." This shows that both companies are determined to proceed against the government's decision and continue to advance their plans for merger.

political background

The blockade of this merger not only has economic implications, but also political dimensions. President Biden's decision is viewed by many as part of a more comprehensive strategy to protect national industry and ensure that important resources remain in their own country. However, the lawsuit of the company could lead to an intensive debate about the role of the government in corporate mergers.

outlook for the developments

This story continues to develop and is updated regularly. The coming weeks could be crucial to see how the courts react to the lawsuit and what effects this could have on industry and competition in the USA