The US Department of Justice (DOJ) has filed a motion seeking an extension in the lawsuit between United States Steel (US Steel) and Nippon Steel against the Committee on Foreign Investment in the United States (CFIUS). According to a report by Reuters, the DOJ's motion requests a 21-day extension for the briefing deadline and proposes rescheduling oral arguments for the week starting May 12, moving them from the original date of April 24.
The DOJ's statement indicates that the requested extension will allow the government to continue its ongoing discussions with the involved parties regarding the US Steel and Nippon Steel transaction. The goal of these discussions is to potentially resolve the case without requiring a court decision on the merits of the litigation. This motion is seen as a strong indication that former President Donald Trump may ultimately permit the sale to proceed in some form.
In January 2025, the two companies filed the initial lawsuit, accusing former President Joe Biden of undermining the rule of law in favor of political considerations. They claim Biden was influenced by the United Steelworkers (USW) union to advance his political agenda, resulting in a biased process that deprived Nippon Steel and US Steel of a fair opportunity for consideration.
This legal battle highlights the ongoing tension between political influences and corporate transactions, with the future of the US Steel-Nippon Steel deal still hanging in the balance.
VietnamSteel by Hoa Sen Group
