“The American president has not presented any credible evidence that national security is at risk,” says the Japanese giant
The Japanese giant Nippon Steel decided to go to court against the US government, challenging the US president’s decision Joe Biden to block the takeover of the American steel industry US Steelthe Nikkei financial newspaper reported.
In their joint statement, Nippon Steel and US Steel complain that the takeover ban, as it stands, constitutes “clear violation of due process”as defined by law.
“We are appalled by President Biden’s decision, which reflects a clear violation of the fair application of the law. Instead of implementing (the process), he manipulated it to advance his political agenda.” the companies claim in their announcement.
The American president “did not present any credible evidence” that national security is at risk, they added.
The share of US Steel, which recorded a big drop at the opening of the New York Stock Exchange, remains in the “red”. At around 18.30 (Greece time) it fell by 6.72%, to 30.41 dollars.
Source :Skai
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