(Update) U.S. to Hold 51 Pct Stake in U.S. Steel: Trump
Washington, June 12 (Jiji Press)--U.S. President Donald Trump said Thursday that the United States will hold a 51 pct stake in United States Steel Corp. as part of Nippon Steel Corp.'s planned deal to acquire the U.S. steelmaker.
Speaking to reporters at the White House, Trump said that Washington would hold golden shares, or shares with rights to veto board appointments or mergers, giving the president control. He did not provide further details.
The remark may significantly affect Nippon Steel's acquisition efforts, as the Japanese firm is aiming for a full takeover.
Trump said last month that he supports a "planned partnership" between U.S. Steel and Nippon Steel.
He said that the golden shares would give "total control" of the company to the president, regardless of who is in the post. He added that Nippon Steel will "spend 17 billion dollars on U.S. Steel," lauding the sizeable investment. Trump previously said that Nippon Steel will invest 14 billion dollars.
(2025/06/13-10:54)
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