President Donald Trump said the US government will keep a "golden share" in United States Steel (X) after it's acquired by Japan's Nippon Steel, Bloomberg reported Thursday, citing his comments at a White House event.
With the golden share, Trump said Americans would have 51% ownership in the company, but didn't explain what that meant. This was the first public mention from the administration about seeking a golden share, but details haven't been released by the White House, the report said.
Last week, United States Steel said that its potential $14.9 billion takeover by Nippon Steel is being given more time as the Japanese steelmaker and the Trump administration asked a US appeals court to extend a pause in their litigation for eight days.
United States Steel and Nippon Steel didn't immediately reply to MT Newswires' request for comments.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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