US approves merger of U.S. Steel with Japan’s Nippon Steel
Washington, June 14 (Hibya) – U.S. President Donald Trump issued an executive order approving the merger of U.S. Steel with Japan’s Nippon Steel after the companies signed a national security agreement with the U.S. government.
U.S. Steel and Nippon stated that the agreement would grant the U.S. government a “golden share” and includes specific commitments regarding governance, domestic production, and trade. The companies did not disclose details about the powers granted through the golden share.
In a joint statement, the companies said, “All necessary regulatory approvals for the partnership have now been obtained, and finalization is expected imminently.”
The agreement also includes Nippon’s commitment to invest $11 billion by 2028, including initial spending on a greenfield project to be completed after 2028.
British News Agency
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