Nippon Steel: Suing the US government is one option

In response to US President Joe Biden's decision not to approve Japan Steel's acquisition of US steel companies, Japan Steel President Masashi Imai said that filing a lawsuit against the US government is one of the "important options".

Reuters reported that the United States had been considering a US $14.9 billion (S $20.4 billion) offer from Nippon Steel for a year.

Japan's public broadcaster NHK reported Monday that Imai told the media that the U.S. government's review process and decision on the acquisition appeared to be flawed, and that Nippon Steel "has the right to request that the acquisition plan be properly reviewed."

Biden, citing national security concerns, refused to approve the acquisition on Wednesday. Mr. Imai said Nippon Steel would soon announce what countermeasures it would take in response to the U.S. government's decision.