'Fully satisfactory agreement': Nippon seals final deal with US Steel
Nippon Steel, a major Japanese steelmaker, just bought US Steel for $14.9 billion—paying a hefty 40% premium per share to seal the deal.
The move creates one of the world's biggest steel players and comes after some political pushback in the US, but both companies say it'll mean more investment and jobs stateside.
US government gets 'golden share'
As part of the agreement, the US government gets a "golden share," giving it oversight on big decisions without owning stock.
US Steel will keep its headquarters in Pittsburgh, and Nippon has promised $11 billion in new investments by 2028—all while keeping production in the US.
Even former President Trump has shifted his stance, calling it a "planned partnership" now.
Investors seem happy too: Nippon Steel's shares jumped over 4% after news broke.