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U.S. Steel and Japan’s Nippon Steel sued the U.S. government to revive their merger blocked by President Biden for national security reasons, accusing officials of corruption. The companies seek a new review by the Committee on Foreign Investment in the United States and also filed a lawsuit against Cleveland-Cliffs and union leaders for allegedly undermining the deal. Despite facing long odds in court, the companies argue for a fair process and challenge the decision to block the $14 billion bid, raising concerns about abuse of presidential powers and deterring foreign investment.
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