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Japan's Nippon Steel said on Wednesday it would raise 800 billion yen ($5.6 billion) through two subordinated loans to partially fund its recent $14.9 billion acquisition of U.S. Steel and refinance previous loans.
U.S. Steel's amended charter gives Trump sweeping powers over major business decisions while he is in office. The "golden share" will then be held by the Treasury and Commerce Departments after Trump's term is over, according to an SEC filing.
Here are some of the major companies whose stocks moved on the week's news.
Canada will adjust its counter-tariffs on steel and aluminum imports from the US on July 21 in line with progress in trade negotiations, Prime Minister Mark Carney said on Thursday. Carney did not specify the new tariff rates but said the changes would reflect developments in talks with Washington.
The U.S. administration's policy shift to introduce high tariffs will increase the strategic importance of Nippon Steel's business development in the U.S. market, the top Japanese steelmaker's CEO, Eiji Hashimoto, said on Thursday.
NEW YORK , June 18, 2025 /PRNewswire/ -- APi Group Corp. (NYSE: APG) will replace United States Steel Corp. (NYSE: X) in the S&P MidCap 400 effective prior to the opening of trading on Tuesday, June 24. Nippon Steel Corp. (TSE: 5401) acquired United States Steel in a deal that closed today.
National security agreement allows Trump to name a board member as well as a non-economic golden share
The measures agreed to represent an unusual level of control conceded by the companies to the government to save the deal, after a rocky path to approval spurred by high-level political opposition.
The merger creates the world's second-largest steel maker.
Japan's Nippon Steel has completed its $14.1 billion acquisition of United States Steel Corporation (NYSE:X), creating one of the world's largest steel producers with an annual capacity of 86 million tons, the companies said on Wednesday. The combined entity will maintain US Steel's name, Pittsburgh headquarters, and commitment to producing steel that is “Mined, Melted, and Made in America.