NEW YORK, June 18 (Xinhua) -- Nippon Steel has completed its 14.2 billion U.S. dollars takeover of U.S. Steel, the company announced on Wednesday, capping a year and half of fraught negotiations and resulting in a landmark deal for a president who originally opposed the deal.
The agreement includes a "golden share" arrangement that gives President Donald Trump final say over key parts of the company's U.S. business, including plant closures, headquarters location and employee salaries, as a way to ease earlier national security concerns.
Nippon, a Japanese steel giant, bought all shares of U.S. Steel for 55 dollars apiece, valuing the transaction at 14.2 billion dollars, corporate filings show. The company also plans to invest an additional 11 billion dollars in its U.S. operations by 2028. Combined, the new company will become the world's second-largest steelmaker. ■
