A seismic shift in the global steel industry has been sealed: Nippon Steel has finalized its blockbuster $14.9 billion acquisition of U.S. Steel, combining two industrial titans in a deal laced with economic ambition, geopolitical implications, and a rare national security agreement with the U.S. government.
Announced Wednesday, the closing of the deal cements a $55-per-share purchase of Pittsburgh-headquartered U.S. Steel, originally unveiled in December 2023, with Nippon assuming both equity and debt for full enterprise control.
A Deal Forged in Fire — and Politics
The acquisition, overseen by a flotilla of elite legal and financial firms on both sides, now places Nippon at the helm of one of America’s most iconic manufacturers. But this is no ordinary foreign takeover. The pact comes with $11 billion in planned U.S. investments by 2028, and an unprecedented “golden share” issued to the U.S. government — giving the sitting president veto authority over major corporate decisions.
“This is a momentous day for our country and for American steel,” said U.S. Steel CEO Dave Burritt, thanking President Donald Trump for greenlighting the transaction after reversing his earlier opposition. “With Pittsburgh as our forever home, we move forward stronger than ever.”
