U.S. Steel Stock Is Rising. Trump OKs Nippon Deal
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1don MSN
President Donald Trump would have unique influence over the operations of U.S. Steel under the terms of the investment being made by Nippon Steel.
The U.S. Steel and Nippon deal continues to be a point of contention between labor and the presidential administration.
After a year and a half of government talks, countless regulatory hiccups and last-minute negotiations, Nippon Steel Corp. secured its much-wanted prize late last week when President Donald Trump approved the $14.
President Trump on Friday cleared the way for Japan-based Nippon Steel to potentially acquire U.S. Steel, though details about the structure of the deal — including a possible "golden share" held by the federal government — remain unclear.
The companies said they had entered into an agreement with the U.S. government to alleviate any national security concerns.
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