What’s Next for US Steel After Biden’s Block Triggers Lawsuits
The American company and its Japanese suitor are contesting the decision, but their options are limited.
A water tower at United States Steel Corp.’s Edgar Thomson Works mill in Braddock, Pennsylvania.
Photographer: Bloomberg
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Welcome to our guide to the energy and commodities powering the global economy. Today, reporters Joe Deaux and Josh Wingrove explore options for US Steel as the firm battles to preserve a planned merger with Nippon Steel. And in the wake of Ukraine’s gas-transit cutoff, we look at Moscow’s alternatives for shipping the fuel to foreign buyers.
President Joe Biden’s decision to block the proposed $14.1 billion takeover of United States Steel Corp. by Japan’s Nippon Steel Corp. has prompted a swift response.