Fact Check: Nippon Steel finalizes $15 billion takeover of U.S. Steel
What We Know
On June 18, 2025, Nippon Steel Corporation announced the finalization of its acquisition of United States Steel Corporation (U.S. Steel) for approximately $15 billion. This deal, which had been in the works since December 2023, involved U.S. Steel becoming a wholly owned subsidiary of Nippon Steel while retaining its name and headquarters in Pittsburgh, Pennsylvania (AP News, Reuters). The acquisition was characterized as a "historic partnership" that included provisions for U.S. government oversight, particularly concerning national security (AP News).
The deal was initially proposed at $14.9 billion and included commitments from Nippon Steel to invest $11 billion in upgrading U.S. Steel facilities through 2028 (Wikipedia). The acquisition was marked by significant political scrutiny, with both former President Donald Trump and President Joe Biden expressing concerns about foreign ownership of a major American industrial entity (AP News, Wikipedia).
Analysis
The claim that Nippon Steel has finalized a $15 billion takeover of U.S. Steel is substantiated by multiple credible sources. The acquisition price of approximately $15 billion aligns with the reported figures from both the Associated Press and Reuters, which detail the financial aspects of the deal (AP News, Reuters).
The deal's complexity is underscored by the inclusion of a "golden share" provision, which allows the U.S. government to have a say in certain corporate decisions, reflecting heightened national security concerns (AP News). This aspect of the agreement indicates that the transaction was not merely a straightforward acquisition but involved significant negotiations to address political and economic implications.
The sources used in this analysis are reputable news organizations and a well-maintained encyclopedia entry, which provide a balanced view of the acquisition's context, including the political landscape and the implications for U.S. steel production (AP News, Reuters, Wikipedia). The reliability of these sources is high, as they are established entities known for their journalistic standards.
Conclusion
Verdict: True
The claim that Nippon Steel has finalized a $15 billion takeover of U.S. Steel is accurate. The details surrounding the acquisition, including the financial figures and the political context, have been corroborated by multiple credible sources. The deal represents a significant moment in the steel industry, reflecting both economic and national security considerations.
