Nippon Steel has formally agreed to all regulatory terms set by the US government for its $14.1 billion acquisition of US Steel, as outlined in a recent SEC filing. Central to the agreement is the issuance of a "golden share" giving President Donald Trump or a designated official significant oversight over key operational aspects, including production, payroll, and strategic planning.
Among the 10 limitations accepted by Nippon are guarantees to keep the Granite City plant operational until mid-2027 and to refrain from idling or selling any US Steel facilities until at least 2035, barring force majeure. The company also committed to aligning with US trade policy and maintaining domestic production standards, including restrictions on reducing or delaying capital investments.
As part of the deal, Nippon will invest $10.8 billion across US sites by 2028, including $3.1 billion at Gary Works and $3 billion at Big River, with an additional $1 billion earmarked for a new mini mill. The agreement further prevents underpricing on steel products and significant shifts in raw material sourcing.
The deal ensures US Steel will retain its name and remain headquartered in Pittsburgh, safeguarding both legacy and strategic interests under the National Security Agreement.
