Nippon Steel Finalizes $14.9 Billion U.S. Steel Deal
Nippon Steel finalized its $14.9 billion acquisition of U.S. Steel after an 18-month process which faced national security challenges and received direct involvement from President Donald Trump.
The acquisition of all U.S. Steel shares by Nippon Steel occurred at $55 per share following the December 2023 proposal. The companies obtained regulatory approval through a national security agreement which granted the U.S. government a “golden share” with veto power over strategic decisions including plant closures and overseas job transfers and name or headquarters changes.
The agreement enables Trump or his designated representative to select an independent board member which represents an unusual level of executive control over a private business. The agreement creates a precedent which opponents claim will discourage future foreign investments in U.S. assets.
Nippon Steel Chairman Eiji Hashimoto expressed gratitude to Trump for making the acquisition possible despite opposition from the United Steelworkers union and foreign investment review concerns from legal observers. Hashimoto expressed his excitement about starting a new era for U.S. Steel.
The merged company unites Nippon's technological capabilities with U.S. Steel's market strength to form a global industry leader in a rising protectionist environment.
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