U.S. Steel shares rise
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18hon MSN
U.S. Steel and Japan's Nippon Steel said Trump had approved their merger after they signed a national security agreement with the U.S. government.
United States Steel shares are jumping in premarket trading Monday, as the Pittsburgh-based company’s takeover by Japan’s Nippon Steel looks set to close following the deal's approval by President Donald Trump.
US media report the government's "golden share" in US Steel after it's acquired by Nippon Steel will give the White House significant sway over the company's management.
President Trump on Friday cleared the way for Japan-based Nippon Steel to potentially acquire U.S. Steel, though details about the structure of the deal — including a possible "golden share" held by the federal government — remain unclear.