United States Steel Corporation (X)
NYSE NYSE Primary 
US Steel and Nippon Steel file lawsuits alleging political interference, anticompetitive behavior in proposed acquisition
United States Steel Corporation (NYSE:X) (US Steel) and Nippon Steel have taken legal action following President Joe Biden's decision to block Nippon's $15 billion acquisition of US Steel. The companies have filed two lawsuits alleging political interference and illegal attempts by rivals to prevent the deal, which they argue would benefit US national security and strengthen the American steel industry.
US Steel, Nippon sue Biden over move to block $14B deal: ‘Shameful and corrupt'
The lawsuit, filed in a federal court in Washington, accused Biden and senior administration officials of corrupting the deal's review process, and harming American steel workers by blocking the deal.
U.S. Steel And Nippon Sue Biden Administration For Blocking Merger
U.S. Steel and Japan's Nippon Steel have filed a federal lawsuit challenging President Joe Biden's decision last week to block a $14.9 billion merger between the two, the companies announced on Monday, in a last-ditch effort to save a deal that has faced political opposition both from top Democrats and Republicans, including President-elect Donald Trump.
Why Biden blocked the US Steel-Nippon deal
President Joe Biden has blocked the proposed $14.9 billion acquisition of United States Steel (X) by Nippon Steel (NPSCY), citing national security concerns. CRU Principal consultant and North American Steel analyst Josh Spoores joins Morning Brief to examine the implications of the President's decision.
USW's McCall Says US Steel Is Viable, Backs Biden's Decision
USW International President David McCall reacts to President Joe Biden's decision to block the sale of US Steel to Nippon Steel on "Bloomberg The Close." Sign up for the Bloomberg Deals newsletter for the latest news and analysis on M&As, IPOs, PE deals, startup investing and everything in between.
X down: U.S. Steel stock falls 7% after President Joe Biden blocks takeover by Japanese giant Nippon Steel
U.S. Steel (NYSE: X) stock was down more than 5% in midday trading Friday, after President Joe Biden blocked a nearly $15 billion takeover bid by Japan's Nippon Steel (NISTF), arguing foreign ownership over one of America's largest steel producers posed a threat to national security.
With Nippon Deal Blocked, What's Next for US Steel?
President Joe Biden on Friday blocked Japanese steel giant Nippon's $14 billion acquisition of U.S. Steel (X), throwing into question the prospects of the storied steelmaker.
Mike Pompeo defends US Steel, Nippon deal, urges Trump to do the same
President Biden's decision to block the acquisition of U.S. Steel by Nippon Steel citing national security concerns drew criticism from former Secretary of State Mike Pompeo.
U.S. Steel price target lowered to $39 from $47 at Morgan Stanley
Morgan Stanley analyst Carlos De Alba lowered the firm's price target on U.S. Steel (X) to $39 from $47 and keeps an Overweight rating on the shares after President Biden blocked Nippon Steel's (NPSCY) proposed acquisition, citing national security concerns and a responsibility to keep America's steel industry domestically owned and operated. The firm, which updated its price target to reflect a standalone valuation, reiterates an Overweight rating on standalone U.S. Steel based on the company's "transformation into a more flexible and competitive steelmaker with increasing free cash flow generation." U.S. Steel + Nippon Steel +0.0701 (+1.02%)
Biden Blocks US Steel Deal: What's Next For X Stock?
United States Steel Corp X is caught in a whirlwind of challenges. From technical bearish signals to a major acquisition roadblock, the stock is under pressure.
Biden Blocks $14.9B US Steel Takeover, Shares Plunge (UPDATED)
Editor's note: This story has been updated with comments from X and Nippon Steel in paragraph six.
U.S. Steel Stock Lower on Blocked Nippon Deal; Bears Respond
President Joe Biden blocked Japan-based Nippon Steel's $14.9 billion buyout of United States Steel Corp (NYSE:X).
