As part of the US$55-per-share deal, the Japanese company will invest an additional US$11 billion by 2028, including an initial commitment in a greenfield project that would be completed after 2028. Nippon had previously raised its pledged additional investment in an effort to win President Donald Trump’s approval.
Nippon Steel Corp won conditional US approval for its US$14.1 billion purchase of United States Steel Corp, capping a lengthy saga in a tie-up that will create one of the world’s largest steel companies.
In a release Friday, the companies said they’ve committed to a national security agreement proposed by the Trump administration, which earlier cleared the deal subject to those terms.
