Trump Signs Nippon Steel US Steel Deal

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Nippon Steel investment

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Nippon Steel

ABC News

•

World

Trump clears path for Nippon Steel investment in US Steel, so long as it fits the government's terms

Summary

Nutrition label

80% Informative

U.S. Steel rose $ 2.66 , or 5% , to $ 54.85 in afterhours trading Friday .

Nippon Steel's original bid to buy the Pittsburgh -based steelmaker in late 2023 had been valued at $ 55 per share.

The companies offer few details on how the golden share would work, what other provisions are in the national security agreement.

The White House declined to provide details on the terms of the agreement.

The draft agreement was submitted to U.S. Steel and Nippon Steel on Friday .

The two companies must successfully execute the agreement as decided by the Treasury Department and other federal agencies that are part CFIUS by the closing date of the transaction.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful