Nippon Steel acquires US Steel for $14.9bn with ‘golden share’ for Trump

National security agreement allows Trump to name a board member as well as a non-economic golden share

Nippon Steel's $14.9bn acquisition of US Steel closed on Wednesday, the companies said, confirming an unusual degree of power for the Trump administration after the Japanese company's 18-month struggle to close the purchase.

Under the deal terms, Nippon bought 100% of US Steel shares at $55 a share, as it first laid out in its December 2023 offer for the well-known and struggling steelmaker.