They also filed a lawsuit in federal court in Pittsburgh against rival steelmaker Cleveland-Cliffs Inc. and CEO Lourenco Goncalves, as well as United Steelworkers President David McCall, alleging coordinated anticompetitive and racketeering activities designed to allow only Cliffs to acquire U.S. Steel.

If the deal does not go through, Nippon Steel would have to pay a US$565 million break-up fee. Read more at straitstimes.com.

The United Steelworkers says a report from the Committee on Foreign Investment in the United States about proposed Nippon deal is now in President Biden’s hands.

The president said he was moving to protect national security in deciding the fate of the iconic Pennsylvania-based company, which became a contentious political issue in an election year.

U.S. Steel employs thousands across its plants and offices in Pennsylvania and the state has about 10% of the nation’s steelworkers.

It was not shocking that the Committee on Foreign Investment in the United States sought to defer a decision on Nippon Steel’s $14 billion offer to acquire Pennsylvania’s U.S. Steel until after the November 5 presidential election.

President Biden is blocking the proposed $14 billion acquisition of U.S. Steel by Nippon Steel. Fox - 10 Phoenix Fox - 10 Phoenix

United Steelworkers leadership praised Biden's decision while others fear it may end steelmaking in Western Pennsylvania.