Overview

• The deal closes an 18-month effort and creates the world’s second-largest steelmaker.
• Under the national security pact, the U.S. government holds a golden share granting the president veto rights on plant closures, relocations and other major board decisions.
• Nippon Steel has pledged about $11 billion in new investments in U.S. Steel’s operations by 2028, including a greenfield project slated for completion after 2028.
• U.S. Steel will retain its name, Pittsburgh headquarters and U.S. incorporation with a majority of its board and key executives required to be American citizens.
• The transaction is expected to support over 100,000 U.S. jobs, though the United Steelworkers union remains skeptical about the deal’s long-term safeguards.