Nippon Steel president says suing US government is an option, NTV reports

Nippon Steel President Tadashi Imai said filing a lawsuit against the U.S. government is one of the "important options", Nippon Television reported on Monday, after President Joe Biden blocked its proposed purchase of U.S. Steel.

Imai told reporters that the U.S. government's reviewing process and the decisions over its acquisition proposal did not seem properly handled, adding Nippon Steel is "entitled to a proper review," according to the report.

Biden cited national security concerns for rejecting the $14.9 billion bid on Friday after a year of review.

Imai said that it would not take long for the company to announce countermeasures to the U.S. government's decision, the report said.