US Steel rises after DOJ files motion to extend deadlines in CFIUS lawsuit

Shares of United States Steel X.N rise 2.5% premarket to $39.96

Co in a filing says the U.S. Department of Justice filed a motion last week to extend two deadlines in co's joint lawsuit with Nippon Steel 5401.T against the Committee on Foreign Investment in the United States (CFIUS)

U.S. Steel and Nippon Steel sued the CFIUS after it recommended then U.S. President Joe Biden to reject their merger on national security grounds

Filing adds the extension aims to allow the government more time to complete its ongoing discussions with the steel companies on the merger and eliminate the litigation against CFIUS

U.S. Steel stock up 14.7% YTD; shares shed over 30.1% in 2024