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Here's What We Know About the U.S. Steel-Nippon Deal


The high-profile, multi-billion-dollar takeover of U.S. Steel by Japanese-based Nippon has been finalized, the companies announced Wednesday.


GASP staff is reviewing available details. 


But here’s what we know right now via a U.S. Steel press release:


Under the NSA, the U.S. Government and the Companies have agreed to measures to protect U.S. national security, including, among others, the following commitments by the Companies:


  • Investment - Nippon Steel will make approximately $11 billion in new investments in U. S. Steel by 2028, which includes an initial investment in a greenfield project that will be completed after 2028;

  • U.S. Headquarters - U. S. Steel will remain a U.S.-incorporated entity and will maintain its headquarters in Pittsburgh, Pennsylvania;

  • U.S. Board - A majority of the members of U. S. Steel’s board of directors will be U.S. citizens;

  • U.S. Management - U. S. Steel’s key management personnel, including its CEO, will be U.S. citizens;

  • U.S. Production - U. S. Steel will maintain capacity to produce and supply steel from its U.S. production locations to meet market demand in the U.S.; and

  • U. S. Steel Autonomous Trade - Nippon Steel will not prevent, prohibit, or otherwise interfere with U. S. Steel’s ability to pursue trade action under U.S. law

  • Pursuant to the NSA and through the ownership of the Golden Share, the U.S. Government will have certain rights, including, among others:

  • The right to appoint one independent director; and

  • Consent rights of the President of the United States, or his designee, on specific matters, including:

    • Reductions in the committed capital investments under the NSA;

    • Changing U. S. Steel’s name and headquarters;

    • Redomiciling U. S. Steel outside of the United States;

    • Transfer of production or jobs outside of the United States;

    • Material acquisitions of competing businesses in the United States; and

    • Certain decisions on closure or idling of U. S. Steel’s existing U.S. manufacturing facilities, trade, labor, and sourcing outside of the United States.\


    Here's media coverage of the deal:


  • U.S. Steel, Nippon finalize $14.9B merger, security agreement | TribLIVE.com

  • Done Deal: The Sale of U.S. Steel to Nippon Steel is Complete | Pittsburgh Post-Gazette

  • Nippon Steel finalizes $15B takeover of US Steel after sealing security agreement - ABC News

  • Nippon Steel's purchase of U.S. Steel closes, with big role for Trump | Reuters

  • Nippon Steel Closes Its $14.1 Billion Acquisition of US Steel (X) - Bloomberg





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