US Steel and Nippon file lawsuit over Biden’s order blocking $14.9bn deal
by Reuters from US news | The Guardian on (#6TBYG)
Companies say Biden's blocking of the proposed purchase over national security concerns violates constitution
US Steel and Nippon Steel have filed a lawsuit against Joe Biden's order that blocked the $14.9bn buyout of the American steelmaker by the Japanese company, they said on Monday.
The lawsuit asked the court to set aside the review process of the committee on foreign investment in the US and Biden's order, citing violation of the constitutional guarantee of due process and statutory procedural requirements, as well as unlawful political influence".
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