Nippon Steel completed its acquisition of United States Steel on 18 June 2025, ending an 18-month saga that had drawn in two US presidents. The Japanese steelmaker paid 55 dollars a share, about 14.2 billion dollars in total, and U.S. Steel became a wholly owned subsidiary of Nippon Steel North America, with its shares delisted from the New York Stock Exchange the same day. The deal closed under a National Security Agreement signed on 13 June, under which U.S. Steel issued a golden share, one share of Class G preferred stock, to the US government, giving Washington rights over governance, domestic production and trade matters. Nippon Steel committed to about 11 billion dollars of new investment in U.S. Steel by 2028, plus a greenfield project after 2028, and the companies said the partnership would protect and create more than 100,000 jobs. U.S. Steel kept its name and its Pittsburgh headquarters, and the transaction closed five days after President Trump issued an executive order allowing it to proceed.
Source: Nippon Steel Corporation — https://www.nipponsteel.com/common/secure/en/news/20250618_100.pdf
Photo: Wikimedia Commons (freely licensed).