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International Business Times
International Business Times
World
Mark Moore

Nippon Steel and US Steel Hit Back At Biden's 'Unlawful Decision' To Block Sale

Joe Biden Nippon Steel US Steel Nippon United States National Security
Nippon Steel and U.S. Steel blasted President Joe Biden in a joint statement on Friday for blocking a deal between the two companies. (Credit: AFP)

Nippon Steel and U.S. Steel hit back at President Joe Biden for blocking a $14.9 billion deal between the two companies, claiming the "unlawful decision" was based on political motives and noting they will "take all appropriate action" to protect their legal rights.

Biden announced earlier Friday that he was rejecting Nippon's takeover of U.S. Steel to ensure that it remained "American-owned, American-operated."

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