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The companies said they had entered into an agreement with the U.S. government to alleviate any national security concerns.
By Lauren Hirsch and Alan Rappeport
U.S. Steel and Nippon Steel announced on Friday that they had entered into an agreement with the U.S. government to seal the terms of a “partnership” between the companies, more than a year after the Japanese steel maker first tried to buy its U.S. competitor.
Former President Joseph R. Biden Jr., under pressure from the United Steelworkers union, blocked the deal on the basis that it was a threat to national security. President Trump, who also initially opposed the deal, reversed himself and decided to look for a way to revive it.
