Overview

• President Trump cleared the takeover as a “partnership,” allowing the $55-per-share deal to move ahead after a fresh national security review.
• Nippon Steel will inject $14 billion over 14 months, including $2.4 billion for a new electric arc furnace and $2.7 billion to upgrade blast furnaces in Pittsburgh.
• A golden share agreement will give the U.S. government veto power over board appointments and key corporate decisions to protect production levels.
• U.S. Steel will retain its Pittsburgh headquarters under an American CEO and majority-U.S. board as outlined in the security pact.
• The takeover is expected to preserve 10,000 jobs in Pennsylvania and create 10,000 more in the building trades as operations expand.