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.

Nippon Steel plans to complete its purchase of U.S. Steel after reaching an agreement with the Trump administration to resolve national-security concerns. Plus: Warner Bros. Discovery bondholders approval company’s split.

United States Steel surges 40% but faces integration challenges post-approval of the Nippon Steel merger. Click here to read an analysis of X stock now.

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.

Gary, Indiana Mayor Eddie Melton has said Nippon Steel plans to pump $1 billion into the U.S. Steel Gary Works.