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Benzinga
Benzinga
Business
Kaustubh Bagalkote

Trump Gets 'Golden Share' In $14 Billion US Steel Deal, But Control Shifts To Federal Agencies Under Future Presidents

US Steel Donald Trump United States Nippon Steel United States Steel Corp
US Steel

Nippon Steel Corp. (OTC:NPSCY) completed its acquisition of United States Steel Corp. (NYSE:X), with President Donald Trump securing unprecedented “golden share” powers that grant the U.S. government veto authority over key corporate decisions.

What Happened: The $14 billion transaction transforms U.S. Steel into a wholly owned subsidiary of Nippon Steel North America, according to U.S. Securities and Exchange Commission filings. U.S. Steel shares ceased trading on the New York Stock Exchange last week, with delisting effective June 30.

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