Overview

• President Trump issued an executive order approving Nippon Steel’s $14.9 billion takeover of U.S. Steel after the companies finalized a national security agreement with federal regulators.
• The golden share gives the U.S. president veto authority over moving the headquarters, changing the company’s name, offshoring jobs or closing factories without White House consent.
• Nippon Steel has pledged between $11 billion and $14 billion in new investments by 2028, including plant upgrades and plans for a modern electric arc furnace.
• Shares of Nippon Steel climbed about 3% in Tokyo trading while U.S. Steel stock rallied nearly 5% as investors welcomed the cleared regulatory path.
• The merged entity will rank as the world’s second-largest steelmaker, boosting annual capacity to roughly 86 million metric tons from 63 million.