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Nippon Steel Closes Its $14.1 Billion Acquisition of US Steel

  • Nippon Steel completed its $14.9 billion acquisition of U.S. Steel on a Wednesday, finalizing full ownership and retaining U.S. Steel's name and Pittsburgh headquarters.
  • The deal faced 18 months of scrutiny including opposition from Joe Biden, who blocked it on national security grounds in January 2025, before Trump approved it after concessions from Nippon.
  • The acquisition agreement includes a golden share giving the U.S. government veto power over decisions affecting plants, production, and staffing to protect U.S. jobs.
  • Nippon Steel committed $11 billion in new investments into U.S. Steel, promising to meet U.S. steel production demands and placing U.S. citizens in key management roles.
  • The U.S. Steelworkers union pledged to monitor Nippon’s commitments closely, while the deal establishes one of the world's largest steelmakers with a strong U.S. presence.
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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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