Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Nippon Steel has finalized its $15 billion acquisition of U.S. Steel, making it one of the largest industrial takeovers in recent years. A unique aspect of the deal is the creation of a "golden share," giving former President Donald Trump—and only him during his term—special veto powers over key company decisions.
This golden share allows Trump to influence actions like plant closures, relocations, major investments, and leadership changes. Once his term ends, this authority will shift to the U.S. Treasury and Commerce Departments.
The agreement also ensures that U.S. Steel will retain its headquarters in Pittsburgh, maintain an American CEO, and have a majority of board members from the U.S. Nippon Steel has pledged up to $14 billion in investments to modernize operations and preserve jobs.
While the deal aims to balance national security and economic growth, it has raised concerns among labor unions and foreign investors. Critics argue the golden share sets a precedent for government overreach in private business and may deter future foreign investment.
The merger creates the world’s fourth-largest steel producer, positioning the U.S. steel industry for growth—but under a new model of political oversight rarely seen in global corporate mergers.
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