Overview

• President Trump issued an executive order clearing the $14.9 billion takeover after a national security review required a golden share arrangement.
• The golden share grants the president veto power over headquarters relocations, offshoring, name changes and other key corporate actions.
• U.S. Steel shares jumped about 5% in early trading on Monday as investors welcomed the removal of regulatory uncertainty.
• Labor union United Steelworkers has expressed concern that the government’s control could complicate upcoming contract negotiations.
• All regulatory approvals are in place and the deal is expected to close promptly, creating the world’s second-largest steelmaker.