U.S. Steel and Nippon Steel Corporation, along with its subsidiary Nippon Steel North America, announced that President Donald Trump has approved Nippon Steel’s USD 14.9 bln acquisition of U.S. Steel.
The approval includes a Presidential Executive Order and a National Security Agreement (NSA) with the U.S. government. The NSA outlines around USD 11 bln in planned investments by 2028, including a greenfield project to be completed afterward. It also includes provisions on governance, such as a “golden share” giving the U.S. veto power over key decisions, along with commitments to domestic production and trade compliance.
With this move, all necessary U.S. regulatory approvals have been secured, and the deal is expected to close promptly, the companies said.
The acquisition will boost Nippon Steel’s presence in the U.S., enhancing its capabilities in high-end steel products amid global trade tensions. U.S. Steel, facing challenges with aging infrastructure, will benefit from Nippon Steel’s advanced technology in automotive and shipbuilding steel.
The bid, initially launched in December 2023, faced political opposition. Former U.S. President Biden later blocked the deal on national security grounds before leaving office, prompting legal challenges from both companies.