Nippon Steel finishes purchase of US steel
(MENAFN) Nippon Steel has officially completed its $14.2 billion purchase of U.S. Steel, the company confirmed on Wednesday, bringing an end to nearly 18 months of intense negotiations. The deal represents a significant milestone for President Donald Trump, who had initially voiced opposition to the acquisition.
To address earlier concerns about national security, the agreement features a "golden share" provision. This measure grants President Trump the authority to make final decisions on crucial elements of the company’s American operations, such as factory closures, corporate headquarters, and worker compensation.
According to corporate records, Nippon, a leading Japanese steel producer, acquired all outstanding shares of U.S. Steel at a rate of $55 per share, bringing the total value of the deal to $14.2 billion. Additionally, the company has announced plans to inject another $11 billion into its US facilities by 2028. Together, the merged entity will stand as the world’s second-largest steel producer.
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