Trump OKs Nippon Steel investment in U.S. Steel
Digest more
United States Steel shares are jumping in premarket trading Monday, as the Pittsburgh-based company’s takeover by Japan’s Nippon Steel looks set to close following the deal's approval by President Donald Trump.
The U.S. Steel and Nippon deal continues to be a point of contention between labor and the presidential administration.
U.S. Steel’s so-called “partnership” with Nippon appears to be nearing its end after about 18 months after it was announced.
The companies said they had entered into an agreement with the U.S. government to alleviate any national security concerns.
Trump admin officials provided additional insight into the "golden share" arrangement that the federal government made as a condition for supporting the deal.