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. The accusation was made in a Dec.

Nippon Steel Corp. alleges the White House had undue influence over a national security review of the Japanese company’s $14.9 billion bid for United States Steel Corp. and threatened legal action if the deal is blocked,

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).

Despite a steady stream of meetings and calls with U.S. officials, and three revamped proposals to assuage national security concerns, Nippon Steel has failed to garner approval from a powerful panel reviewing its $14.

The accusation was made in a Dec. 17 letter, signed by counsel for Nippon Steel and U.S. Steel, to the Committee on Foreign Investment in the United States.

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