During a press conference at the White House, President Donald Trump asserted that the United States possesses a "golden share" in U.S. Steel, which is integral to the proposed acquisition by Nippon Steel. Although the specific details of this arrangement were not clarified, Trump emphasized that this share implies American stakeholders would hold a majority ownership stake of 51% in the steel company.
In subsequent comments made to the Nikkei business daily, a representative from Nippon Steel indicated that for the acquisition to move forward, there must be "a degree of management freedom." This statement suggests that negotiations regarding the structure of the deal are ongoing, showing that both firms are still working to finalize terms that would satisfy U.S. government regulations. The executive noted that Nippon Steel’s investment aligns with the administration's goals to revitalize American manufacturing.
At a previous event in Pennsylvania, Trump praised the partnership with Nippon Steel, branding them as an essential ally for U.S. Steel. However, he later clarified to reporters that their agreement is still not finalized, leaving the matter of whether he will ultimately approve Nippon Steel’s ownership still unresolved. On June 5, Nippon Steel, along with the Trump administration, sought a delay from a U.S. appeals court in litigation related to the acquisition, asking for an additional eight days to conclude negotiations for the $14.9 billion deal. On the stock market front, Nippon Steel's shares fell by 1.48% in Tokyo, against a backdrop of a 0.89% dip in the overall Nikkei index.
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