US Steel and Nippon, whose $14.3 billion merger was blocked by President Joe Biden last week, filed a lawsuit against the US government Monday, claiming Biden’s executive order to bar the companies from combining was signed for “purely political reasons.

Citing national security concerns and following an expansive but divided Treasury Department review, President Joe Biden recently decided to deny the $14 billion purchase of U.S. Steel Corp. by the Japanese firm Nippon Steel. The decision is final, at least for now, but both companies have already brought suit to overturn it.

In dual lawsuits filed Jan. 6, U.S. Steel Corp. and Nippon Steel Corp. blame the Biden administration's politicizing its national-security review as well as the behind-the-scenes actions by rival Cleveland-Cliffs Inc. and United Steelworkers International President David McCall for scuttling the $14.9 billion deal.

The move by Cleveland-Cliffs comes after the Biden administration blocked the U.S. Steel-Nippon tie-up on national security grounds.

Blocking Nippon Steel from acquiring U.S. Steel lays the groundwork for a major consolidation of American steelmaking that will harm consumers and the economy.

Nippon's offer to buy USS was $14 billion while, according to Cliff CEO Lourenco Goncalves, Cliffs' final bid was $13.8 billion. Before Biden killed the Nippon deal, a bipartisan group, including incoming President Donald Trump, also opposed the deal.

U.S. Steel shares jumped Monday on a report that Cleveland-Cliffs is teaming up with rival Nucor for a potential bid for the company, whose $14.1 billion buyout by Nippon Steel was recently blocked by President Joe Biden.

We recently compiled a list of the Jim Cramer Recently Discussed These 15 Stocks & The California Wildfires. In this article, we are going to take a look at where United States Steel Corporation

We recently compiled a list of the Jim Cramer Recently Discussed These 15 Stocks & The California Wildfires. In this article, we are going to take a look at where Cleveland-Cliffs Inc. (NYSE:CLF) stands against the other stocks Jim Cramer recently discussed.

We recently compiled a list of the Jim Cramer Recently Discussed These 15 Stocks & The California Wildfires. In this article, we are going to take a look at where Nucor Corporation (NYSE:NUE) stands against the other stocks Jim Cramer recently discussed.

An Ohio-based company won’t give up on its quest to merge with U.S. Steel. According to multiple media outlets, Cleveland-Cliffs wants to buy the iconic company with the help of North Carolina’s Nucor Steel.