financetom
Business
financetom
/
Business
/
Nippon Steel could offer Washington golden share to seal U.S. Steel deal, Nikkei reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Nippon Steel could offer Washington golden share to seal U.S. Steel deal, Nikkei reports
May 27, 2025 4:51 AM

TOKYO, May 27 (Reuters) - Nippon Steel ( NISTF ) is

considering offering a so-called golden share in U.S. Steel

to the U.S. government in order to finalise its

long-sought acquisition of the iconic American firm, Japan's

Nikkei newspaper reported on Tuesday.

Deliberations over the idea, which would give Washington the

power to veto important management matters, were also reported

by Japan's Kyodo news agency. Neither outlet cited sources for

the information.

Nippon Steel ( NISTF ) declined to comment on the reports and the

White House could not be immediately reached for comment.

Japan's top steelmaker has for months sought to seal a $14.9

billion bid to acquire U.S. Steel, with the deal subjected to

two rounds of national security reviews by the secretive

Committee on Foreign Investment in the United States.

President Donald Trump on Friday signaled support for the

deal, sending the shares of both companies leaping higher, but

his comments have left lingering questions about the scope of

the deal and its costs for the Japanese firm.

Trump said on Sunday that the United States will have

"control" over U.S. Steel as part of the company's "partnership"

with the Japanese firm, but did not elaborate.

If the acquisition is approved, Nippon Steel ( NISTF ) plans to buy

all of U.S. Steel's shares and delist them, Nikkei reported. It

would then be able to issue a golden share and transfer it to

the U.S. government, Nikkei said.

The idea is among several being weighed by Nippon Steel ( NISTF ) and

it has not yet been shared with the U.S. government, it added.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Mar 22, 2024
05:04 AM EDT, 03/22/2024 (MT Newswires) -- Hutchmed ( HCM ) said late Thursday it has started the registration stage for a phase 2/3 clinical trial of investigational drug sovleplenib for adult patients with warm antibody autoimmune hemolytic anemia in China. The move follows positive data from the proof-of-concept phase 2 stage of the trial and a consultation with the...
Once a beacon of stability, Vietnam to name third president in a year
Once a beacon of stability, Vietnam to name third president in a year
Mar 22, 2024
HANOI, March 22 (Reuters) - Communist-ruled Vietnam is seeking its third president in little more than a year after the resignation of Vo Van Thuong, who was only elected last year after the sudden dismissal of his predecessor. With accumulated foreign direct investment higher than its gross domestic product, Vietnam's stability is crucial to multinationals with large operations in the...
Japan's union group Rengo announces biggest wage hikes on record
Japan's union group Rengo announces biggest wage hikes on record
Mar 22, 2024
TOKYO (Reuters) -Japanese firms have agreed to raise pay by 5.25% this year, the biggest rise under comparable data since 2013, the country's largest union group Rengo confirmed on Friday. The results of the closely-watched wage negotiations are announced in several stages, in which the blue-chip firms are first to wrap up their talks in mid-March. The second announcement on...
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Mar 22, 2024
(Reuters) - Popular investor Cathie Wood's ARK Invest bought nearly 10,000 shares of Reddit ( RDDT ) in the social media platform's strong market debut on Thursday, an email from the asset manager showed. A total of 9,982 shares of the loss-making company was added to ARK Next Generation Internet ETF ( ARKW ) and ARK Fintech Innovation ETF (...
Copyright 2023-2026 - www.financetom.com All Rights Reserved