U.S. Steel and Nippon Steel Sue Biden Administration Over Blocked Deal

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U.S. Steel and Nippon Steel Sue Biden Administration
U.S. Steel and Nippon Steel have filed a lawsuit against the Biden administration over the decision to block Nippon Steel's proposed takeover of U.S. Steel. The companies argue that the decision was made for political reasons, violating their due process. Biden halted the acquisition after federal regulators deadlocked, citing national security concerns.

Biden blocked the deal for strategic reasons
Companies allege political motivations
U.S. Steel needs urgent capital investment
Nippon Steel paid a premium for the purchase

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