The President of the United States Donald Trump approved the offer of Nippon Steel of 14.9 billion dollars on Friday, from Us Steel, ending a tumultuous negotiation of 18 months that survived the union opposition and two national security analyzes.
Trump has signed a decree that allows the merger to proceed, as long as the companies have signed an agreement with the Treasury Department to terminate the national security issues presented by the agreement. Shortly thereafter, the companies announced that they had signed the agreement, respecting Trump’s requirements and, in practice, ensuring approval for the operation.
“We can’t wait to put our commitments in action and make a great American and manufacturing steel again,” said the companies in a declaration, thanking Trump. They added that the agreement provides $ 11 billion in new investments by 2028, as well as commitments in governance, production and trade.
Nippon Steel will buy 100% from Us Steel, said a Japanese spokesman in Tokyo on Saturday.
The Makers Steel did not provide details on the “golden share” promised to the United States government, which raises doubts about the extension of the United States control. Senator David McCormick of Pennsylvania, where last month is found the headquarters of Us Steel, which Golden Share would give to the Government Veto Power on important decisions relating to the company.
Reuters had previously reported that Nippon Steel will invest another 3 billion dollars in a new plant after 2028.
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
