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Nippon Steel completes deal for acquisition of US Steel
Bangkok Post
|June 20, 2025
Nippon Steel has completed its acquisition of US Steel, the companies said Wednesday, more than a year after it was first announced.
Soon after Nippon announced its plans to acquire US Steel in December 2023, the company, based in Pennsylvania, a swing state in the presidential election, became part of a game of political football. The powerful United Steelworkers union pushed back against the deal, and President Joe Biden blocked it over national security concerns.
Last month, President Donald Trump, who had opposed the deal while he was on the campaign trail last year, said he had approved a transaction that granted the White House a golden share in the company, giving it extraordinary control over the new company as part of a national security agreement.
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