President Joe Biden officially announced on Friday he has blocked Nippon Steel's $14.1 billion purchase of U.S. Steel, setting up a likely federal court battle.

President Joe Biden has rejected the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel.

U.S. Steel and Nippon Steel said on Monday that it is suing over President Joe Biden's decision to block its sales agreement and a domestic competitor and union over their actions to scuttle the deal.

Trump opposes U.S. Steel's sale to Nippon, but CEO David Burritt believes he can convince the president-elect that the deal is in the interest of U.S. workers.

President Joe Biden on Friday announced his decision to block the $14 billion sale of U.S. Steel to Japan’s Nippon Steel, citing national security concerns. The move could have serious implications in Gary,

In a joint statement, Nippon and U.S. Steel called Biden’s decision “a clear violation of due process and the law’’ and suggested they would sue to salvage their deal: “We are left with no choice but to take all appropriate action to protect our legal rights.’’

In dual lawsuits filed Jan. 6, U.S. Steel Corp. and Nippon Steel Corp. blame the Biden administration's politicizing its national-security review as well as the behind-the-scenes actions by rival Cleveland-Cliffs Inc. and United Steelworkers International President David McCall for scuttling the $14.9 billion deal.

The companies condemned the president's decision and hinted at taking legal action, while U.S. Steel's CEO accused Biden of "political corruption."

Overturning Mr Biden’s decision in court will be tough. Judges give wide latitude to the executive on matters of national security, and allegations of insufficient due process will be a hard sell, says Jonathan Gafni of Linklaters, a law firm.

The CEO of Nippon Steel says he will not give up on the company's push to acquire US Steel, after the bid was blocked by US President Joe Biden last week. The companies are now suing the US government to reverse the decision.

Both Biden and President-elect Donald Trump have courted unionized workers at U.S. Steel and vowed to block the acquisition amid concerns about foreign ownership of a flagship American company.