After 18 months of struggle, Nippon Steel finalized its $14.9 billion acquisition of US Steel, granting the U.S. government a rare "golden share" with veto power over key corporate decisions. The deal, approved under the Trump administration after Biden had earlier blocked it, allows Trump to appoint a board member. The golden share prevents relocation of US Steel’s HQ, job transfers, and future acquisitions without U.S. consent. Nippon avoids a $565M breakup fee and gains access to U.S. infrastructure projects. The acquisition includes $11B in investments by 2028. Markets reacted positively, with Nippon Steel shares rising 2.7%.