Nippon Steel’s case against the United States for blocking its acquisition of United States Steel is unlikely to succeed, according to attorneys with expertise in relevant areas.
“Unfortunately for Nippon Steel, their argument is not particularly strong,” said Akira Inoue, a partner at Baker & McKenzie in Tokyo specializing in antitrust and competition.
On Jan. 6, the Japanese steelmaker and U.S. Steel filed a suit to challenge U.S. President Joe Biden’s rejection of the $14.9 billion deal on national security grounds just days earlier.
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