By The Straits Times | Created at 2025-01-06 00:40:36 | Updated at 2025-01-07 14:40:06
1 day ago
TOKYO - Nippon Steel President Tadashi Imai said filing a lawsuit against the United States government is one of the “important options”, Nippon Television reported on Jan 6, after US President Joe Biden blocked its proposed purchase of US Steel.
Mr Imai told reporters that the US government’s reviewing process and the decisions over its acquisition proposal did not seem properly handled, adding Nippon Steel is “entitled to a proper review,” according to the report.
Mr Biden cited national security concerns for rejecting the US$14.9 billion bid on Jan 3 after a year of review.
Mr Imai said that it would not take long for the company to announce countermeasures to the US government’s decision, the report said. REUTERS
Join ST's Telegram channel and get the latest breaking news delivered to you.
