Both companies said on Wednesday that Japanese steel giant Nippon acquired US Steel $ 14.9 billion (€ 12.96 billion).
According to a press release, the US Steel will maintain the name and headquarters in Pittsburgh, Pennsylvania. “Partnership” wants “large -scale investment in steelmaking” in many American states.
Under the terms of deals, Nippon bought 100% shares of US steel by shares at $ 55, the same proposal that NIPPON first made its proposal in 2023.
Deal again after a delay of 18 months
The deal was a hero for 18 months in protest against the American Steel Union, and in January 2025 was formally blocked by the outgoing President Joe Biden, who cited risks for national security concerns and major supply chains.
The current President Donald Trump opposed the Nippon deal on the campaign mark. After assuming office, the Trump administration started negotiations for concessions and ordered a new National Security Review of the deal.
The final deal includes a commitment by Nippon for a new investment of $ 11 billion in US steel for the next three years. Therefore, including an agreement based on national security concerns to meet American demand for steel.
Importantly, the revised deal allows for a “golden share”, which gives the US government rights over corporate decisions that can affect American jobs.
Thesis includes steps such as plant operations, production capacity cuts and pursuing jobs abroad.
The acquisition agreement includes a major role for US President Donald Trump, which gives the President the right to name a board member.
Including this golden share clause was part of a dialect for concerns from the US committee on foreign investment by Nippon, which examines foreign security for national security risk.
more to come …
