TOKYO (Reuters) – Nippon Steel Chairman Tadashi Imai said filing a lawsuit against the U.S. government is one of the “important options,” Nippon TV reported on Monday, after President Joe Biden blocked the proposed purchase of U.S. Steel.
Imai told reporters that the US government's review process and decisions regarding its takeover proposal did not appear to have been handled properly, adding that Nippon Steel was “entitled to conduct an appropriate review,” according to the report.
Biden cited national security concerns to reject the $14.9 billion offer on Friday after a year of review.
Imai said it would not take long for the company to announce countermeasures to the US government's decision, the report said.
