Nippon Steel has finalized a $14.9 billion acquisition of US Steel, as announced on Wednesday. The deal sees a significant role for President Donald Trump, who will name a board member and hold a non-economic 'golden share' that allows the government to veto corporate actions affecting jobs. This acquisition faced initial pushback from President Biden, who had blocked it citing national security and supply chain issues. However, Trump's administration intervened to redesign the acquisition framework, enabling greater US government control.
The acquisition agreement includes a big role for US President Donald Trump, allowing him to name a board member and grant the US government veto authority over key corporate decisions.
Trump's administration countered earlier objections from President Biden regarding national security risks by facilitating a revised acquisition structure that ensures greater US government oversight.
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