Nippon Steel Finalizes Purchase of U.S. Steel After Reaching Security Deal With Trump Administration

Nippon Steel has finalized its acquisition of U.S. Steel, days after securing a national-security agreement with the Trump administration that cleared the way for the deal to move forward.

The agreement calls for Nippon Steel to invest roughly $11 billion across U.S. Steel’s domestic operations over the next three years, a move the companies say will protect and create more than 100,000 jobs. The planned investments span U.S. Steel’s facilities in Pennsylvania, Indiana, Arkansas, Minnesota and Alabama, the companies said Wednesday.

The deal, which President Trump has described as a partnership, will preserve U.S. Steel’s incorporation in the U.S., as well as its headquarters in Pittsburgh, Pa.