This picture taken on Feb. 16, 2024 shows a logo of Nippon Steel Corp. at the company's Kyushu manufacturing base in Kitakyushu city of Fukuoka Prefecture.
Japan's Nippon Steel CEO reiterated Tuesday that the company was not giving up on its takeover of U.S. Steel, a day after it sued the Joe Biden administration over blocking the proposed merger.
U.S. Steel and Nippon Steel announced Monday that they had initiated two lawsuits following the Biden administration's decision to block Nippon Steel's $14.9 billion acquisition of the American steelmaker.
At a press conference on Tuesday, Nippon Steel's chairman and CEO Eiji Hashimoto doubled down on that stance.
Last Friday, Biden officially blocked Japan's Nippon Steel from acquiring U.S. Steel, fulfilling his pledge to keep an industrial name that is over a century old under U.S. ownership.
Persons:
Joe Biden, Biden, Eiji Hashimoto, Hashimoto
Organizations:
Nippon Steel Corp, Nippon Steel's, U.S . Steel, Japan's Nippon Steel, Nippon Steel, Nippon
Locations:
Kyushu, Kitakyushu, Fukuoka Prefecture . U.S, U.S