Overview

• The “golden share” grants the president perpetual veto power over headquarters relocations, name changes, offshoring and plant closures.
• The U.S. government holds a noneconomic Class G share that allows presidential appointment of one independent board director and veto of the other two.
• Nippon Steel must invest at least $11 billion in U.S. Steel by 2028, with additional funding for a new electric arc furnace boosting total commitments to around $14 billion.
• The United Steelworkers union has questioned undisclosed deal terms and is gearing up for labor negotiations before its collective bargaining agreement expires in September 2026.
• With all major regulatory approvals secured, the transaction remains subject only to customary closing conditions and is expected to finalize promptly.