Nippon Steel and US Steel said on Wednesday they have finalised their “historic partnership”, a deal that gives the US government a say in some business matters and comes a year-and-a-half after the Japanese company first proposed its nearly $15bn (€13bn) buyout of the iconic American steelmaker.
The pursuit by Nippon Steel of the Pittsburgh-based company was buffeted by national security concerns and presidential politics in a premier battleground state, dragging out the transaction for more than a year after US Steel shareholders approved it.
