Overview

• Nippon Steel’s $14.9 billion acquisition of U.S. Steel closed on June 18, making the Pittsburgh-based company a wholly owned unit of Nippon Steel North America.
• The golden share gives Trump veto power over plant closures, headquarters relocations, changes to the company name and reductions in capital investments.
• Control of the golden share’s veto powers will revert to the Treasury and Commerce Departments once Trump leaves office.
• As part of the national security agreement, Nippon Steel pledged to invest $11 billion to upgrade U.S. Steel’s facilities.
• Labor and governance experts have criticized the arrangement as an unprecedented expansion of executive authority into corporate decision-making.