By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > Japan’s Nippon Steel closes its takeover of rival US Steel
News

Japan’s Nippon Steel closes its takeover of rival US Steel

News Room
Last updated: 2025/06/18 at 11:42 AM
By News Room
Share
3 Min Read
SHARE

Unlock the White House Watch newsletter for free

Your guide to what Trump’s second term means for Washington, business and the world

Japan’s Nippon Steel has closed its nearly $15bn purchase of its American rival US Steel, ending more than a year of political wrangling that threatened to scuttle the agreement on multiple occasions.

US President Donald Trump approved the tie-up last week, months after his predecessor Joe Biden moved to block the deal. Nippon Steel clinched Trump’s approval after pledging to invest $11bn in the Pennsylvania-based company by 2028, billions of dollars more than it had initially promised. It also handed the government a golden share in US Steel, which will allow the White House to veto key corporate decisions.

“I am very pleased that the partnership between Nippon Steel and US Steel has been realised thanks to President Trump’s historic and visionary decision,” Eiji Hashimoto, Nippon Steel’s chair and chief executive, said in a statement. 

US Steel’s base in the electoral swing state of Pennsylvania, and its historic role in American industry, caused the deal to become the subject of intense debate during the US presidential election last year. Biden, former vice-president Kamala Harris and Trump all opposed the deal while on the campaign trail, concerned that it would threaten thousands of union jobs. 

As a result, Nippon Steel launched a grassroots political campaign to bring workers and local elected officials on side. The effort helped persuade Trump who reversed his decision, hosting a rally last month to celebrate the “blockbuster agreement” at US Steel’s Pittsburgh headquarters. 

The Japanese steelmaker has committed to keeping US Steel’s headquarters in the industrial city. Nippon Steel also said that a majority of US Steel’s board of directors will be US citizens, and so will top executives like its chief executive. 

“We share President Trump’s commitment to protect the future of the American steel industry, American workers and American national security, and we look forward to building a stronger and brighter future for US Steel,” said Nippon Steel’s vice chair Takahiro Mori. 

In the final days before the transaction contractually needed to close, Nippon Steel agreed to a so-called “golden share” for the US government, handing the White House veto power over key business decisions in an unprecedented move. It does not give the government an economic interest in the group.

As part of the golden share, the government will have final say on a host of future business decisions for US Steel, including moving jobs outside of the US and closing plants.

Read the full article here

News Room June 18, 2025 June 18, 2025
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Trump lifts tariff baseline rate to 15%, US mortgage rates hold steady, White House unveils AI plans

Watch full video on YouTube

The rise of AI companions

Watch full video on YouTube

Turtle Beach Corporation (TBCH) Q2 2025 Earnings Call Transcript

Turtle Beach Corporation (NASDAQ:TBCH) Q2 2025 Earnings Conference Call August 7, 2025…

BCG consultants modelled relocating Gazans to Somalia

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

S&P notches a 4th consecutive record, inside the feud between Trump and Paramount

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

News

Turtle Beach Corporation (TBCH) Q2 2025 Earnings Call Transcript

By News Room
News

BCG consultants modelled relocating Gazans to Somalia

By News Room
News

Eve Holding, Inc. 2025 Q2 – Results – Earnings Call Presentation (NYSE:EVEX)

By News Room
News

Trump envoy Steve Witkoff in Moscow to press Putin on Ukraine war

By News Room
News

Cerus Corporation (CERS) Q2 2025 Earnings Call Transcript

By News Room
News

Beijing hits obstacles in push to consolidate China’s chip sector

By News Room
News

Donald Trump claims JPMorgan Chase and BofA turned away his business

By News Room
News

Starbucks Stock Is Still Selling Hope. We’re Not Buying (NASDAQ:SBUX)

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?