Overview

• The $14.9 billion deal closed on June 18 and made U.S. Steel a wholly owned subsidiary of Nippon Steel.
• Trump holds a golden share that lets him veto decisions such as changing the company name, relocating its headquarters, closing plants and altering capital commitments.
• Control over the golden share will transfer to the Treasury Department and Commerce Department once Trump leaves office.
• The national security agreement requires Nippon Steel to invest approximately $11 billion in modernizing U.S. Steel facilities.
• United Steelworkers opposed the takeover, warning it could weaken labor leverage and undermine oversight of domestic production.