Nippon Steel (OTCPK:NPSCY) alleged that the Biden administration had "impermissible undue influence" over a national security review of its more than $14 billion planned acquisition of US Steel (NYSE:X).

Nippon Steel alleges the White House had "impermissible undue influence" over a national security review of its $14.9 billion bid for U.S. Steel and threatened legal action if the deal is blocked.

Nippon Steel alleges the White House had "impermissible undue influence" over a national security review of its $14.9 billion bid for U.S. Steel and threatened legal action if the deal

If anything, approving the deal would make the U.S. stronger. The merged company would form the world’s third-largest steelmaker, better able to take on China’s dominant producers.

The clock is ticking for President Joe Biden to decide the fate of Nippon Steel's (5401.T) $15 billion bid to buy US Steel (X) based on a recommendation from the Committee on Foreign Investment in the United States (CFIUS).