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Nippon Steel Closes $14.1 Billion U.S. Steel Takeover, Pledges $11 Billion Upgrades

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Published Jul 3, 2025, 07:30 PM

Japan’s Nippon Steel Corp. has completed its roughly $14.1 billion acquisition of United States Steel Corp., concluding an 18-month effort that had twice been blocked on national-security grounds before winning approval from President Donald Trump. The closing removes U.S. Steel’s X ticker from the New York Stock Exchange and makes the combined company the world’s fourth-largest steelmaker by output.

Under a binding National Security Agreement, Nippon Steel will invest about $11 billion in U.S. facilities by 2028 and keep U.S. Steel’s headquarters and branding in Pittsburgh. The accord requires a board with a majority of American directors and stipulates that production remain “mined, melted and made” in the United States.

To secure Washington’s consent, Nippon Steel issued a single “golden share” to the U.S. government that gives the president—or a designated official—veto power over plant closures, shifts of production abroad, reductions in the promised capital spending and other strategic decisions. Company executives said the terms preserve management flexibility while positioning the enlarged group to meet rising U.S. demand for advanced steel products.

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Sources

reuters.com(15)jiji.com(11)mainichi.jp(11)asia.nikkei.com(11)

The Japan News

@The_Japan_News

Nippon Steel Corp. Chairman Eiji Hashimoto and other executives met with Prime Minister Shigeru Ishiba to report the completion of the company’s acquisition of U.S. steel giant United States Steel Corp.

Automotive News

@Automotive_News

Top 5 stories of the week: Nippon Steel’s purchase of U.S. Steel a relief for automakers

Reuters

@Reuters

🔊 Nippon Steel deal reveals cost of ‘America First’: In this Viewsroom podcast, @Breakingviews columnists debate the golden share it handed to the US government and what this means for others eyeing stateside expansion