Latest news with #goldenShare
Bloomberg
7 days ago
- Business
- Bloomberg
US Poised to Get Golden Share in US Steel-Nippon Steel Deal
The US government is poised to receive a so-called golden share in United States Steel Corp. as a condition for approving Nippon Steel Corp. 's proposed acquisition of the American company. The plan, which would give the government de facto veto rights on certain company decisions, is part of ongoing talks between authorities and the companies, according to people familiar with the matter. On Friday, President Donald Trump announced a 'partnership' that included $14 billion in new investments.
Japan Times
7 days ago
- Business
- Japan Times
U.S. poised to receive golden share in U.S. Steel-Nippon Steel tie-up
The U.S. government is poised to receive a so-called golden share in United States Steel Corp. as a condition for approving Nippon Steel Corp.'s proposed acquisition of the American company. The plan, which would give the government de facto veto rights on certain company decisions, is part of ongoing talks between authorities and the companies, according to people familiar with the matter. On Friday, President Donald Trump announced a "partnership' that included $14 billion in new investments. Still unclear are the scope of such veto powers and what the administration has decided regarding the existing $14.1 billion merger agreement. The deal put forward to the Committee on Foreign Investment in the U.S. and to the President included the original $55-per-share acquisition in addition to the further $14 billion investment, two people familiar with the matter said.
Bloomberg
7 days ago
- Business
- Bloomberg
US Set to Receive Golden Share as Part of US Steel-Nippon Deal
The US government is poised to receive a so-called golden share in United States Steel Corp. as a condition for approving Nippon Steel Corp. 's proposed acquisition of the American company. The plan, which would give the government de facto veto rights on certain company decisions, is part of ongoing talks between authorities and the companies, according to people familiar with the matter. On Friday, President Donald Trump announced a 'partnership' that included $14 billion in new investments.
CTV News
27-05-2025
- Business
- CTV News
Nippon Steel could offer Washington golden share to seal U.S. Steel deal, Nikkei reports
Nippon Steel is considering offering a so-called golden share in U.S. Steel to the U.S. government in order to finalize its long-sought acquisition of the iconic American firm, Japan's Nikkei newspaper reported on Tuesday. Deliberations over the idea, which would give Washington the power to veto important management matters, were also reported by Japan's Kyodo news agency. Neither outlet cited sources for the information. Nippon Steel declined to comment on the reports 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 U.S. Steel, 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. Trump said on Sunday that the United States will have 'control' over U.S. Steel as part of the company's 'partnership' with the Japanese firm, but did not elaborate. If the acquisition is approved, Nippon Steel plans to buy all of U.S. Steel's shares and delist them, Nikkei reported. It would then be able to issue a golden share and transfer it to the U.S. government, Nikkei said. The idea is among several being weighed by Nippon Steel and it has not yet been shared with the U.S. government, it added. (Reporting by Kaori Kaneko, Kentaro Komiya, Yuka Obayashi; Additional reporting by Susan Heavey in Washington; Writing by John Geddie; Editing by Kirsten Donovan)
