Overview
- President Donald Trump issued an executive order on June 13 approving Nippon Steel’s $14.9 billion takeover of U.S. Steel.
- The national security agreement obliges Nippon to invest $11 billion in U.S. operations by 2028 and grants the U.S. government a golden share with veto rights over key decisions.
- Nippon Steel will acquire 100% of U.S. Steel, which will remain headquartered in Pittsburgh and operate under U.S. oversight.
- The merger was first announced in December 2023, blocked by President Biden in January over security concerns, and cleared after a renewed CFIUS review under the Trump administration.
- All necessary regulatory approvals are now in place, and the companies expect to finalize the deal promptly while protecting and creating over 100,000 U.S. steel jobs.