TOKYO (Reuters) – Nippon Steel President Tadashi Imai said suing the U.S. government was one of the “important options,” Nippon Television reported on Monday, after President Joe Biden blocked his proposed purchase of U.S. Steel.
Imai told reporters that the U.S. government’s review process and decisions on the acquisition offer did not appear to have been made properly, adding that Nippon Steel “is entitled to due diligence,” according to the report.
Biden cited national security concerns in rejecting the $14.9 billion proposal on Friday after a year of consideration.
Imai said it would not take long for the company to announce countermeasures in response to the US government’s decision, the report said.