U.S. Steel, Trump and Nippon
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KEY TAKEAWAYS 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.
12hon MSN
President Donald Trump would have unique influence over the operations of U.S. Steel under the terms of the investment being made by Nippon Steel.
The companies said they had entered into an agreement with the U.S. government to alleviate any national security concerns.
Even before the political complications that have hampered Nippon Steel’s U.S. gambit, the offer price looked steep. At $55 a share, Nippon Steel will pay a 142% premium to the level U.S. Steel was trading at before it effectively put itself up for sale in 2023.