YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Japan’s Nippon Steel is now expected to close on the acquisition of U.S. Steel with involvement by the U.S. government, sources familiar with the matter told CNBC.
Sen. Dave McCormick, R-Pennsylvania, said on CNBC’s “Squawk Box" that the U.S. government would get a so-called golden share that would give it approval over board members and production levels. U.S. Steel's headquarters are in McCormick's state.
President Donald Trump reportedly cleared Nippon's bid for U.S. Steel on Friday, with an expected closing of $55 per share. Nippon will invest $14 billion over a 14-month period through the agreement, and U.S. Steel's headquarters will remain in Pittsburgh.
Read more from CNBC.
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