Now that it has acquired U.S. Steel, Nippon Steel is planning a significant expansion of its US operations, including the construction of a new mill and more than doubling its steel output.
SEC documents also name Trump specifically as having veto power certain decisions are part of the “Golden Share” provision.
USS shuffles leadership deck after deal closes with Nippon.
The document makes clear that Nippon Steel, through Nippon Steel America, will have “100% ownership of [the] common stock.” So if you want to own an interest in U.S. Steel’s future success, you will need to buy shares in Nippon Steel on the Nikkei stock exchange. It certainly will not be in your domestic S&P 500 ETF.
Now that the USS/Nippon deal has been completed, what's next?
Nippon Steel and USS have finalized their "partnership" in a deal first announced in December 2023.
President Trump has approved the sale of U.S. Steel to Nippon Steel, according to an executive order signed on Friday, June 13. Both the Pittsburgh-based steelmaker and the Japanese steelmaker cheered the development.
A Nippon executive has hit back regarding the deal for USS following President Trump's talk of a "golden share" on Thursday.
President Trump says the US government will hold a 51% stake in U.S. Steel after the Nippon deal.
There has been little word from U.S. Steel, Nippon Steel, or the White House since President Trump endorsed the companies’ “partnership” on social media and celebrated it at the May 30 rally outside Pittsburgh.
Briefing on the stay motion will be completed by June 9. If a stay pending appeal is granted, it will likely remain in effect until the Court of Appeals issues a decision, which could be months in the future. The case is almost certain to be appealed to the Supreme Court.
At a rally celebrating a “planned partnership” between U.S. Steel and Nippon Steel, President Trump announced higher tariffs on steel and aluminum imports into the United States, and revealed few more details on Nippon’s investment in USS’ operations.
A short tour of key dates in the Nippon/USS deal, and what the future might hold.
In a social media post, President Donald Trump said a planned partnership between Nippon Steel and U.S. Steel will add $14 billion to the US economy and ensure USS remains headquartered in Pittsburgh.
I sort of expected big news last Friday and over the long, Memorial Day weekend. Because that's become more the norm than the exception for steel this year. Sure enough, Trump posted on Truth Social on Friday afternoon that he had given his blessing to a “partnership” between Nippon Steel and U.S. Steel. And then over the weekend we had market moving new on tariffs, this time involving the EU.
The US government could acquire a stake in U.S. Steel as part of Nippon Steel’s $14-billion deal for the Pittsburgh-based steelmaker, according to various media reports. The Trump administration sees Washington, D.C., acquiring a “golden share” as part of the deal, according to an article in Kyodo News on Tuesday. This would give the US […]
President Donald Trump on Friday gave his blessing to a $14-billion "partnership" between Nippon Steel and U.S. Steel.
New developments emerge in the Nippon/USS CFIUS review.
We're going to have to wait a bit longer for the final outcome of the Nippon/USS deal.
The CFIUS report is in, but what it contains remains unknown.
Nippon Steel could build a new domestic U.S. Steel mill with a total investment of $4 billion.
A Pennsylvania state senator plans to submit legislation to incentivize steelmaking in the state.
U.S. Steel CEO praised the company’s resilience, “despite the seasonally low results driven by annual mining logistics constraints in our North American Flat-Rolled segment and lagging spot prices.”
“We remain deeply concerned about the national and economic security implications of the subject transaction,” the union stated in the letter dated April 21.
Should foreign investment be allowed to reshape the American steel Industry? Not to be lost in the recent on-again-off-again tariff frenzy, Nippon Steel’s proposed takeover of U.S. Steel has also found itself in President Trump’s crosshairs when it comes to trade and industrial policy. Nippon Steel initially announced its nearly $15-billion bid for U.S. Steel […]
Despite ordering a new review of Nippon Steel’s bid for U.S. Steel, President Trump said he is still against selling USS to a Japanese company, according to media reports.
Investment firm Ancora Holdings Group has halted its play for U.S. Steel's board, citing Nippon Steel’s proposed bid for USS “gaining momentum.”
Ancora’s intention to replace U.S. Steel's leadership was first announced in late January.
President Trump has ordered a new review of Nippon Steel’s proposed buy of U.S. Steel, to be completed within 45 days.
It's the latest twist as the proxy battle heats up for Pittsburgh-based U.S. Steel.