US Steel and Nippon, two major steel companies, have taken legal action against the US government following President Joe Biden's decision to block their proposed merger. The companies filed a lawsuit on Monday, alleging that Biden's executive order to prevent the merger was made for what they claim are 'purely political reasons'.
In a joint statement, US Steel and Nippon expressed their determination to proceed with the merger despite the obstacles they are facing. They stated, 'Today's legal actions demonstrate Nippon Steel's and US Steel's continued commitment to completing the transaction – despite political interference'.
