Nippon Steel has committed to spending more than $25 billion to buy United States Steel and make further investments into the storied American company, and even after all that ¡ª after buying 100% of the equity ¡ª it won't fully control the steelmaker.
In the transaction, the United States government will receive a golden share in the U.S. steelmaker, which will give it veto power over a number of activities and a degree of control over its board of directors.
The incredibly restrictive conditions, which are permanent, might have been accepted because they align with what the 911±¬ÁÏÍø steelmaker was planning on doing all along; the conditions might not restrain the future parent at all.
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