Overview

• Nippon Steel agreed to invest an additional $11 billion in U.S. Steel to secure White House approval after more than a year of regulatory scrutiny.
• Under the National Security Agreement, U.S. Steel has issued a 'golden share' that allows the president to veto major actions such as relocating the headquarters, redomiciling outside the U.S., altering capital investments or moving jobs overseas.
• The New York Stock Exchange suspended U.S. Steel trading on closing day as the acquisition was declared effective.
• The $55-per-share cash transaction creates the world’s second-largest steelmaker and ensures Nippon Steel avoids U.S. steel tariffs of up to 50%.
• U.S. Steel will retain its Pittsburgh headquarters, and the merger is projected to inject about $14 billion into the U.S. economy and support more than 100,000 jobs.