Still unclear are the scope of such veto powers and what the administration has decided regarding the existing US$14.1 billion takeover proposal. The deal put forward to the Committee on Foreign Investment in the US and to the President included the original US$55-per-share acquisition along with extra investment, two people familiar with the matter said.
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 and appointments, 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 US$14 billion in new investments, but provided few additional details.
