8 months ago
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Japanese steel giant Nippon closed a $14.9 billion (€12.96 billion) acquisition of US Steel, both companies said on Wednesday.
The acquisition agreement includes a big role for US President Donald Trump, giving him authority to name a board member, along with a non-economic "golden share," which gives the US government veto authority over corporate decisions that could affect US jobs.
The original buyout deal had been blocked by outgoing President Joe Biden in January 2025, who cited national security concerns and risks to key supply chains.
Trump had also opposed the deal in principle, but his administration worked with the companies on a revamped structure to allow more US government control.
More to come...
