(Reuters) – The U.S. Division of Justice filed a movement final week to increase two deadlines in U.S. Metal and Nippon Metal’s lawsuit in opposition to the Committee on Overseas Funding (CFIUS), U.S. Metal mentioned in a submitting on Monday.
The 2 firms in January collectively filed a lawsuit in opposition to CFIUS, which scrutinizes international investments for nationwide safety dangers, after it advisable then U.S. President Joe Biden to reject a merger between U.S. Metal and Japan’s Nippon Metal on nationwide safety grounds.
The movement from the DoJ requires extending briefing deadlines within the CFIUS lawsuit for 21 days, and rescheduling the oral argument to the week of Could 12 from April 24.
The intention of the extension is to permit the federal government extra time to finish its ongoing discussions with the metal firms on the merger, and get rid of the litigation in opposition to CFIUS, the submitting added.
In February, U.S. President Donald Trump mentioned that he wouldn’t thoughts if Nippon Metal took a minority stake in U.S. Metal.
U.S. Metal and Nippon Metal have consented to the movement, however it nonetheless stays topic to court docket approval.
(Reporting by Aishwarya Jain in Bengaluru)
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