U.S. Steel and Nippon Steel said on Monday that it is suing over President Joe Biden's decision to block its sales agreement and a domestic competitor and union over their actions to scuttle the deal.

Nippon Steel said it wouldn't be deterred by Biden’s decision last week to block its $15 billion bid for the storied U.S. steelmaker.

The companies argued in a lawsuit announced on Monday that Biden violated the Constitution by blocking the merger via a sham national security review that deprived the companies of their right to a fair process.

Separate lawsuits from Nippon Steel and U.S. Steel target President Joe Biden as well as a steelworkers union head and a rival steelmaker’s CEO.

President Joe Biden blocked the $15 billion acquisition of U.S. Steel by Japan's Nippon Steel on Friday — something he had first vowed to do in March. With roots dating to the late 19th century, U.S.

United States Steel’s earnings and margins decline in 2024. Learn why X stock is slightly overvalued at $30, with a fair value of $25 per share.

Logical, but not perfect. The Wall Street Journal pointed out that a Cliffs-U.S. Steel combination "would control 100% of U.S. blast furnace production, 100% of domestic steel used in electric-vehicle motors, and 65% to 90% of other domestic steel used in vehicles."

The steel companies allege White House decision to block takeover was political and violated their right to due process.

President-elect Donald Trump’s comments Tuesday, touting a United Arab Emirates company’s planned $20 billion investment in U.S. data centers, could spark hope for the proposed takeover of U.S. Steel by Japan’s Nippon Steel.

The onetime dynamo is fighting to revive a takeover by Nippon Steel. Other tie-ups could also face obstacles, and going it alone could force cutbacks.

U.S. Steel and Japan’s Nippon Steel sued the United States government on Monday in a last-ditch attempt to revive their attempted merger after President Biden blocked it last week on the basis that the transaction posed a threat to national security.

Trump opposes U.S. Steel's sale to Nippon, but CEO David Burritt believes he can convince the president-elect that the deal is in the interest of U.S. workers.