Source: BBC News [UK State Media]
“Japanese firm Nippon Steel has completed its long-sought takeover of US Steel, after agreeing to yield unusual control to the US government. Nippon’s $14.9bn (£11bn) purchase of the smaller American company, will create one of the world’s biggest steelmakers and turns Nippon into a major player in the US. The plan, first announced in 2023, had been seen as a lifeline for the storied but struggling 124-year-old US Steel. But the deal ran into trouble during last year’s presidential election, when US President Donald Trump and his Democratic opponents said they were concerned about the foreign acquisition of one of the last major steel producers in the US. However, Trump reversed his stance, after Nippon made concessions which the President said had satisfied his national security concerns.” (06/18/25)