06:29 AM EDT, 09/04/2024 (MT Newswires) -- United States Steel ( X ) , which in the process of being acquired by Nippon Steel, will be appointed a board of directors with majority of US citizens and will remain headquartered in Pittsburgh, Pennsylvania, if the takeover goes ahead, the Japanese steel giant said Wednesday outlining its post-acquisition governance policy.

Nippon Steel further said that the board will also include three independent directors who will be US citizens and the core senior management members will be Americans as well.

United States Steel ( X ) will be owned by Nippon Steel North America, a New York-based unit of the Japanese steelmaker.

Nippon Steel also said the acquisition will not result in moving production capacity outside the country or in the closure of plants and layoffs.

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