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Nippon Steel Closes Its $14.1 Billion Acquisition of US Steel

  • Nippon Steel, a Japanese steel giant, closed its $14.9 billion acquisition of 100% of U.S. Steel, retaining its name and Pittsburgh headquarters on Wednesday.
  • The deal faced obstacles from national security concerns and union opposition, with former President Joe Biden blocking it in January 2025 over supply chain risks.
  • Under the Trump administration, negotiations led to a national security agreement granting the U.S. government a golden share to veto major corporate decisions and allowing Trump to name a board member.
  • Nippon committed $11 billion in investments over three years, agreed to keep U.S. Steel’s operations American-run, and Trump described the deal as improving for workers, promising protections and growth.
  • The acquisition signals increased foreign involvement under strict U.S. controls in steel, aiming to protect jobs and production, though union leaders vow to monitor Nippon’s adherence to commitments.
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Nippon Steel closes US Steel acquisition under strict conditions

Nippon Steel completed its multi-billion-dollar acquisition of US Steel on Wednesday, granting rare veto-like power over strategic decisions to Washington with a "golden share".

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CBS News broke the news in on Tuesday, June 17, 2025.
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