Last week, Nippon Steel and U.S. Steel filed two lawsuits after U.S. President Joe Biden blocked a $14.9 billion buyout of the American steelmaker by the Japanese firm. President-elect Donald Trump takes office on Monday.

24/7 Wall St. Key Points: The U.S. government turned down Nippon Steel's plan to buy U.S. Steel Corp. (NYSE: X), which let down workers and investors standing to gain from the $55 per share proposal. Lacking competitive positioning in both home and international markets, U.S. Steel is experiencing long-term decline and has no obvious road to rebirth. Emphasizing the lost chance for stability and investment in U.S. Steel's activities, Nippon Steel had promised to keep jobs American-based. Forget U.S. Steel, the smart money is already lining up to buy The Next Nvidia stocks. You can click here to see more. Watch the Video “The Next NVIDIA” Could Change Your Life If you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over. The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.” Click here to download your FREE copy. Transcript: [00:00:04] Douglas McIntyre: So basically, the administration, current administration killed the, Nippon Steel purchase U. S. Steel. Now, U. S. Steel is not a strong company, okay? [00:00:17] Lee Jackson: Hardly. They're horrible. [00:00:19] Douglas McIntyre: if you look at those shares, if you look at, if you look at that company, that is a company that is going to slowly but surely shrink, and eventually, eventually, I'm not saying it's going to go out of business, but it's, there's no question. [00:00:34] Douglas McIntyre: It does not have a future. [00:00:36] Lee Jackson: No, you're 100 percent right, and they're not even close to being a leading steel producer in the world, in the United States. And, Yeah, I, you know, the Nippon offer was huge. It was 55 a share, you know, so I mean, there's a lot of, people that work there and, and, and people with shares that are very disappointed in this. [00:01:01] Lee Jackson: And, and from what I read, they also promised that all the jobs were going to stay. They're not moving anything out of Pittsburgh or any place like that. And all the jobs were going to stay. And I don't know, I, I think Trump may have to mold this over because I don't think without a big infusion and the kind of money that Nippon has, they'll probably just muddle along for years and hopefully, you know, not have to close. “The Next NVIDIA” Could Change Your Life If you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over. The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.” Click here to download your FREE copy.

Even as Nippon Steel faced skepticism of its doomed $14.9 billion bid for U.S. Steel from the Biden administration, it was also contending with headwinds from an unlikely source: the CEO of a rival bidder for the firm who repeatedly cast doubt on the deal's prospects to investors.

Looking ahead to Q4, the company projected adjusted EBITDA between $225 million and $275 million. According to Wall Street estimates, U.S. Steel is forecast to report free cash flow of $644 million in 2025, compared to an outflow of $1.38 billion in 2024.

Investing.com-- Nippon Steel Corp (TYO: 5401) wants to work with the incoming Trump administration to win a takeover of U.S. Steel (NYSE: X ), the latter’s Vice Chairman Takahiro Mori wrote in an opinion piece in the Wall Street Journal.

Trudeau says Canada ready with counter-tariffs. Europe’s largest pension fund sells Tesla stake over Musk's pay package: report. White House delays order for US Steel deal.

The steel companies allege White House decision to block takeover was political and violated their right to due process.

U.S. stock indexes were split as gains for oil-and-gas producers helped offset drops for Nvidia and other Big Tech companies.

Asian stocks are mixed after Wall Street snapped out of a spell of holiday season blues, with markets in Tokyo and China declining.

Wall Street pointed higher before the opening bell on Monday, taking back some of its post-Christmas losses as markets prepare to kick off the first full trading week of 2025

Rising technology stocks helped U.S. indexes recover more of their holiday-season slide that bridged the new year.

Joe Biden’s decision to block Nippon Steel’s acquisiton of U.S. Steel may have gone against the advice of top aides.