President rump’s administration is making final arrangements to approve Nippon Steel’s (NPSCY) plan to acquire U.S. Steel (X) as a wholly owned subsidiary, Japan paper Yomiuri Shimbun learned. In order to ensure that the U.S. government holds a degree of influence over U.S. Steel’s management, Nippon will sign a “national security agreement” with the U.S. government, sources told the paper. Trump is scheduled to deliver a speech in Pittsburgh, where U.S. Steel is headquartered, on the same day, according to Yomiuri Shimbun. The agreement will require that Nippon not reduce U.S. Steel’s production capacity for a set period without the approval of U.S. authorities, the paper adds.
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