US Court extends pause in Nippon Steel case, seeks updates by June 20

WASHINGTON (Reuters) -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.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.X: is this perennial leader facing new challenges?

With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Sure, there are always opportunities in the stock market – but finding them feels more difficult now than a year ago. Unsure where to invest next? One of the best ways to discover new high-potential opportunities is to look at the top performing portfolios this year. ProPicks AI offers 6 model portfolios from Investing.com which identify the best stocks for investors to buy right now. For example, ProPicks AI found 9 overlooked stocks that jumped over 25% this year alone. The new stocks that made the monthly cut could yield enormous returns in the coming years. Is X one of them?

Unlock ProPicks AI to find out