Nippon Steel insists that it will not back down in its lawsuit against the U.S. government for blocking its purchase of U.S. Steel, while politicians and businesses in Japan express concern about the scuttling of the deal.
“There is no reason or need to give up,” Nippon Steel CEO Eiji Hashimoto said during a news conference Tuesday morning. “I am convinced that this is the best course of action.”
His comments, delivered sternly and conveying a seriousness of purpose, came just a day after Nippon Steel and U.S. Steel lodged a suit against the U.S. government for blocking the deal on national security grounds.
