U.S. Steel and Nippon Steel are suing to challenge the Biden administration’s decision that blocked a nearly $15 billion deal for the Japanese company to take over its Pittsburgh-based competitor.
The lawsuit, filed Monday in the U.S. Court of Appeals for the District of Columbia Circuit, accuses President Joe Biden and senior administration officials—including Treasury Secretary Janet Yellen and Attorney General Merrick Garland—of violating the companies’ due process rights in a review process they said was “manipulated” for political reasons.
In a separate legal action, the companies sued Cleveland-Cliffs, which previously attempted to acquire U.S. Steel for $7 billion but was rebuffed, along with its CEO Lourenco Goncalves and United Steelworkers International President David McCall. The lawsuit alleges that the Cleveland-based steelmaker and the labor union unlawfully coordinated to undermine the acquisition….