US Court extends pause in Nippon Steel case, seeks updates by June 20
FILE PHOTO: Nippon Steel logo is displayed at the company's headquarters in Tokyo, Japan April 1, 2024. REUTERS/Issei Kato/File Photo
WASHINGTON :A U.S. Appeals court on Friday extended a pause in litigation between Nippon Steel and the Trump administration and gave the parties until next Friday to provide updates related to the case over the Japanese steelmaker's $14.9 billion bid for U.S. Steel.
Nippon Steel and U.S. Steel have been putting the finishing touches on an agreement with the Trump administration to assuage national security concerns posed by the tie-up, announced in December 2023 and blocked by former President Joe Biden. That agreement would allow the transaction to move forward.
In the filing, the D.C. Circuit said the litigation would be paused until further order of the court. The panel judges - Patricia Millett, Cornelia Pillard and J. Michelle Childs - also directed the two sides to provide the court with an update by June 20 about any future legal proceedings in the case.
Such a filing could ask the court to continue to keep the case on pause, or ask the judges to set a new schedule.
