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What will be the resolution of Nippon Steel and U.S. Steel's lawsuit against the United Steelworkers and Cleveland-Cliffs by end of 2025?
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Joe Biden•Biden•Nippon Steel•CFIUS•United Steelworkers•Japanese government•Shigeru Ishiba•Yoshimasa Hayashi•Japan•Eiji Hashimoto
Resolution / Starting Odds
In favor of Nippon Steel and U.S. Steel • 25%
In favor of the defendants • 25%
Settled • 25%
Dismissed • 25%
Official court rulings or legal announcements
Story
Nippon Steel Sues Biden Over Blocked $14.9 Billion U.S. Steel Deal, Citing Unlawful Interference
Jan 6, 2025, 04:26 PM
Nippon Steel Corp. has initiated legal action against U.S. President Joe Biden and the U.S. government following Biden's decision to block Nippon Steel's proposed $14.9 billion acquisition of U.S. Steel Corp. The company filed a lawsuit seeking to overturn the order and request a new review by the Committee on Foreign Investment in the United States (CFIUS). Nippon Steel alleges that the decision was influenced by unlawful political interference from Biden, aimed at securing support from the United Steelworkers union. Additionally, Nippon Steel and U.S. Steel have filed a separate lawsuit against the union's president and the CEO of Cleveland-Cliffs, accusing them of illegal actions to prevent the transaction. The Japanese government, through Prime Minister Shigeru Ishiba and Chief Cabinet Secretary Yoshimasa Hayashi, has expressed regret over the decision, citing concerns about future investments between Japan and the U.S. Nippon Steel's Chairman Eiji Hashimoto has vowed to continue pursuing the acquisition, asserting that there is no reason or need to abandon the deal.
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