US Steel shares stopped trading on the New York Stock Exchange (NYSE) on Wednesday after Japan’s Nippon Steel completed its acquisition of the iconic American industrial name. The delisting will be effective on June 30.
In December 2023, US Steel agreed to merge with Nippon Steel, with Trump initially opposing the deal due to national security concerns. However, he later changed his stance and ordered a new review of the agreement in April. After clearing the deal, Trump announced a “partnership” between the two companies, causing confusion among investors.
US Steel will continue to operate under its name, but Nippon will have significant control over the company’s operations. The two companies agreed to sign a national security agreement, which gives the US president veto power over certain decisions, including:
– Changing US Steel’s name or moving its headquarters
– Moving production or jobs outside the US
– Closing domestic manufacturing facilities
– Reducing capital investments
– Material acquisitions of competing businesses in the US
Nippon has agreed to invest $11 billion in US Steel by 2028, with an initial investment of $1 billion in a greenfield project.
Source: https://www.cnbc.com/2025/06/18/us-steel-ceases-trading-on-the-nyse-as-japans-nippon-finalizes-takeover.html