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of <h1>Nippon Steel and US Steel Sue Biden Administration Over Blocked $15B Merger, Alleging Political Bias and Due Process Violation.</h1> Nippon Steel and US Steel have filed a federal lawsuit against the Biden administration for blocking Nippon's proposed $15 billion acquisition of US Steel. The companies claim the decision was politically motivated and violated due process. They argue the deal would enhance national security by strengthening the US steel industry and investing $2.7 billion in facilities. President Biden blocked the merger, citing the importance of a domestically owned steel industry for national security. Additionally, the companies filed a lawsuit against Cleveland-Cliffs Inc., alleging anticompetitive practices to prevent the deal. Cleveland-Cliffs had previously offered $7 billion for US Steel, which was declined.
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