NEW YORK -- Nippon Steel and U.S. Steel filed a lawsuit against U.S. President Joe Biden and other senior administration officials for exercising "unlawful political influence" over the Japanese company's proposed acquisition of U.S. Steel, as well as a separate suit against rival steel company Cleveland-Cliffs, its CEO and the president of the United Steelworkers (USW) labor union.
In its suit against the U.S. government, Nippon Steel asked the court to set aside Biden's order on Friday blocking the buyout, and to instruct the Committee on Foreign Investment in the United States (CFIUS) to conduct a new review of the $14.9 billion deal for Nippon Steel to purchase U.S. Steel.
