The merger’s approval came after the two companies signed a national security agreement with the U.S. government. The deal says Nippon will make $11 billion in new investments by 2028, which includes initial spending on a greenfield project that will be completed after 2028.
“Today’s executive order ensures U.S. Steel will remain in the great commonwealth of Pennsylvania, and be safeguarded as a critical element of America’s national and economic security,” Kush Desai, a White House spokesman, said in a statement.
The agreement also gives the government a “golden share” and makes certain commitments regarding governance, domestic production, and trade.
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“All necessary regulatory approvals for the partnership have now been received, and the partnership is expected to be finalized promptly,” the two companies said in
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