U.S. Govt May Hold Golden Shares in U.S. Steel
Tokyo, May 27 (Jiji Press)--The U.S. government may hold veto-wielding golden shares in United States Steel Corp. even if Nippon Steel Corp. acquires the U.S. company, informed sources said Tuesday.
The possible golden shares, which would allow the U.S. government to be involved in important management decisions, are apparently aimed at easing its security concerns over the Japanese company's acquisition plan.
Former U.S. President Joe Biden blocked Nippon Steel's takeover bid, citing national security concerns. His successor, Donald Trump, has maintained his opposition to a full acquisition but has instructed the Committee on Foreign Investment in the United States, or CFIUS, to conduct a fresh review of the bid.
Trump said on social media Friday that he backs a "planned partnership" between U.S. Steel and Nippon Steel. On Sunday, he told reporters that Nippon Steel's acquisition would be "an investment" and "a partial ownership," and stressed that the U.S. company "will be controlled by the United States."
For example, Japan's industry minister holds golden shares in resources developer Inpex Corp.
(2025/05/27-21:47)
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