Overview

• Nippon Steel finalized its acquisition of U.S. Steel on June 18, ending an 18-month regulatory and political review that began in December 2023.
• A golden share arrangement gives President Trump veto authority over key decisions such as plant closures, headquarters relocation, and name changes.
• Nippon Steel committed to invest $11 billion in U.S. Steel operations by 2028, including funding for a new mill.
• U.S. Steel will keep its name, remain incorporated in the United States, maintain its headquarters in Pittsburgh, and its shares ceased trading on the New York Stock Exchange.
• The combined entity becomes the world’s second-largest steelmaker with 86 million tons of annual capacity, even as the United Steelworkers union continues to question the deal’s protections.