Done deal: The sale of U.S. Steel to Nippon Steel is complete [View all]
Source: Pittsburgh Post-Gazette
The deal is sealed. Japanese steelmaker Nippon Steel Corp. is the proud new owner of a 125-year Pittsburgh institution, U.S. Steel Corp.
The two companies on Wednesday morning announced that the $14.9 billion sale, first inked in December 2023 and put through a bruising political wringer, has closed and Nippon has assumed control. The deal delivers $55 per share to current U.S. Steel shareholders. The company’s stock stopped trading on Wednesday and is being delisted from the New York Stock Exchange.
The deal hinged on the companies signing a national security agreement with the U.S. government which includes conditions that, until now, have only been hinted at by President Donald Trump and other politicians over the past few weeks.
They include: Investing $11 billion over the next three years into U.S. Steel’s existing facilities and staring construction on a new mini mill that would be completed after 2028 with an additional $3 billion; keeping the company incorporated in the U.S. and headquartered in Pittsburgh; having U.S. citizens comprise the majority of board of directors, and having a CEO, CFO, general counsel, and a senior VP with responsibility for production, manufacturing, and raw materials supply be U.S. citizens; and “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 Nippon Steel will not prevent, prohibit, or otherwise interfere with U.S. Steel’s ability to pursue trade action under U.S. law.”
Read more: https://www.post-gazette.com/business/powersource/2025/06/18/us-steel-nippon-trump-golden-share/stories/202506180031
I'm sure Chump is scrambling to find a way to take all the credit for this deal that's been 2 years in the making.
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