In the Headlines
June 12, 2025

Trump Keeps Nippon Steel Guessing Over U.S. Steel Purchase

Global Finance

CFIUS and Industrial Security Team Leader Antonia Tzinova was quoted in a Global Finance article analyzing the ongoing uncertainties surrounding Nippon Steel Corp.'s attempt to acquire U.S. Steel. Initially blocked by President Joe Biden over national security concerns, the deal was unexpectedly revisited when President Donald Trump directed the Committee on Foreign Investment in the United States (CFIUS) to reconsider the transaction. The drawn-out process has left stakeholders, including steelworkers, investors and foreign firms considering U.S. acquisitions, watching closely and re-evaluating their strategies.

The most recent twist came when Trump announced via social media a new arrangement allowing the deal to go forward, although no details have been disclosed from the confidential discussions. Ms. Tzinova commented on the major question, which concerns how U.S. Steel would be controlled post-transaction. She explained that a "golden share" generally refers to a block of shares that lets the party holding them outvote all other shareholders. However, these arrangements are common in Europe but not in foreign acquisitions of U.S. companies. She added that U.S. Steel has a legal obligation to inform its shareholders of the new governance structure once it's been finalized.

READ: Trump Keeps Nippon Steel Guessing Over U.S. Steel Purchase

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