US Steel and Japanese company Nippon Steel have reached an agreement for Nippon to acquire US Steel after President Donald Trump cleared the deal as a “partnership”. The acquisition will see Nippon invest $14 billion over 14 months in US Steel.
Under the terms of the deal, US Steel’s headquarters will remain in Pittsburgh and its CEO will be American. A majority of the board members will also come from the US to ensure national security concerns are addressed.
US Steel gained 20% on Friday following Trump’s announcement, bringing the stock price to $55 per share – a bid that was previously blocked by President Joe Biden due to national security grounds. The deal has been opposed by the United Steelworkers union, which warned of potential job losses and erosion of domestic steelmaking capacity.
The agreement includes provisions to ensure US government oversight of key board members, protecting production levels from being cut. Trump emphasized that Nippon’s investment will be “controlled by the USA” and will benefit the US economy. A rally at US Steel in Pittsburgh is scheduled for May 30, marking a new chapter in the deal.
Source: https://www.cnbc.com/2025/05/27/japans-nippon-expected-to-close-acquisition-of-us-steel-at-55-per-share-sources-say.html