Nippon Steel Secures $14B U.S. Steel Acquisition with American Board Control

Japan's Nippon Steel is set to acquire U.S. Steel for $55 per share in a deal approved by former President Donald Trump after being blocked under the Biden administration over national security concerns. The acquisition includes a strategic partnership model that maintains U.S. operational control, with U.S. Steel retaining its headquarters in Pittsburgh, an American CEO, and a majority U.S.-based board. A "golden share" held by the U.S. government will grant veto power over key board appointments and production decisions to address national security and ensure stable operations. Nippon Steel has pledged to invest $14 billion in the U.S. over 14 months, including $2.4 billion for the Mon Valley facility, aiming to protect 10,000 jobs and create an additional 10,000 in construction trades. Despite union concerns about Nippon's trade record and potential risks to domestic jobs, the deal is seen as a way to revitalize the American steel industry and strengthen supply chains. Trump plans to visit Pittsburgh to celebrate the deal, touting it as a significant boost to the U.S. economy and job market.