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NHK
a day ago
- Business
- NHK
Trump: 'We have a golden share' in US Steel
US President Donald Trump has indicated that his country's government has a "golden share" in US Steel as part of a deal for Japan's Nippon Steel to acquire the American company. The holder of a golden share can veto selections and dismissals of board members and other important matters related to a company that has issued it. Trump spoke at the White House on Thursday. He said, "We have a golden share, which I control, or the president controls." He added, "It's 51-percent ownership by Americans." Trump is also believed to have referred to Nippon Steel when he said: "We have a company, great company. They're coming in from Japan. They're going to spend 17 billion dollars." Trump is believed to have revealed the amount of money Nippon Steel plans to invest in US Steel. It marked a rise of 3 billion dollars from the figure he disclosed during a speech in the eastern state of Pennsylvania on May 30. It remains unclear where the increase came from. Nippon Steel has been aiming to turn US Steel into a wholly owned subsidiary under the buyout plan. In January, then-US President Joe Biden blocked the plan, citing national security concerns. But in April, Trump instructed the Committee on Foreign Investment in the United States to conduct a fresh review. The committee finished its reexamination and reported it to Trump. A decision is expected soon, as the contract between the two companies is due to expire on Wednesday.
CNA
27-05-2025
- Business
- CNA
US government may hold some US Steel shares in Nippon Steel deal, Kyodo says
TOKYO :The U.S. government may hold some of U.S. Steel's shares as part of a deal to allow Japan's Nippon Steel to acquire the American steelmaker, Kyodo reported on Tuesday. The Japanese news agency said an idea had been floated for the U.S. government to hold a so-called "golden share" which would give Washington the power to veto important management matters. Kyodo did not cite any sources for the information. Nippon Steel declined to comment on the report and the White House could not be immediately reached for comment. Japan's top steelmaker has for months sought to seal a $14.9 billion bid to acquire the storied American firm, with the deal subjected to two rounds of national security reviews by the secretive Committee on Foreign Investment in the United States. President Donald Trump on Friday signaled support for the deal, sending the shares of both companies leaping higher, but his comments have left lingering questions about the scope of the deal and its costs for the Japanese firm.
CNA
22-05-2025
- Business
- CNA
Exclusive-US panel divided over Nippon Steel bid for US Steel but path forward seen, says official
WASHINGTON :A powerful national security panel was divided in its recommendation to President Donald Trump on the national security implications of Nippon Steel's bid for U.S. Steel, a White House official told Reuters on Thursday. However, a majority of the agencies that make up the Committee on Foreign Investment in the U.S. believe that any national security risks posed by the deal can likely by addressed through mitigation, the person said, declining to be named because the recommendation was not public.
Yahoo
22-05-2025
- Business
- Yahoo
Exclusive-US panel divided over Nippon Steel bid for US Steel but path forward seen, says official
By Alexandra Alper WASHINGTON (Reuters) -A powerful national security panel was divided in its recommendation to President Donald Trump on the national security implications of Nippon Steel's bid for U.S. Steel, a White House official told Reuters on Thursday. However, a majority of the agencies that make up the Committee on Foreign Investment in the U.S. believe that any national security risks posed by the deal can likely by addressed through mitigation, the person said, declining to be named because the recommendation was not public. Japan's Nippon Steel declined to comment. U.S. Steel did not immediately respond to a request for comment.
Reuters
22-05-2025
- Business
- Reuters
Exclusive: US panel divided over Nippon Steel bid for US Steel but path forward seen, says official
WASHINGTON, May 22 (Reuters) - A powerful national security panel was divided in its recommendation to President Donald Trump on the national security implications of Nippon Steel's (5401.T), opens new tab bid for U.S. Steel (X.N), opens new tab, a White House official told Reuters on Thursday. However, a majority of the agencies that make up the Committee on Foreign Investment in the U.S. believe that any national security risks posed by the deal can likely by addressed through mitigation, the person said, declining to be named because the recommendation was not public. Japan's Nippon Steel declined to comment. U.S. Steel did not immediately respond to a request for comment.
