U.S. Steel ceases trading on the NYSE as Japan's Nippon finalizes takeover
Last edited Wed Jun 18, 2025, 11:29 AM - Edit history (1)
Source: CNBC
Published Wed, Jun 18 2025 9:44 AM EDT Updated 27 Min Ago
U.S. Steel shares stopped trading on the New York Stock Exchange on Wednesday after Japan’s Nippon Steel completed its acquisition of the iconic American industrial name. President Donald Trump has insisted for weeks that the companies would form a “partnership” in which U.S. Steel would remain American owned.
But the New York Stock Exchange notified the Securities and Exchange Commission on Wednesday that U.S. Steel’s shares would be removed from listing, after the company became a wholly owned subsidiary of Nippon Steel North America. U.S. Steel shares stopped trading at 8:30 a.m. ET on Wednesday after Nippon completed its acquisition, according to a notice from the NYSE. The delisting will be effective on June 30, NYSE said.
Trump opposed Nippon’s bid to acquire U.S. Steel in the runup to the 2024 presidential, but he changed his mind after he took office. Trump ordered a new review of the deal in April after former President Joe Biden had blocked Nippon’s acquisition in January, citing national security concerns.
Trump announced a “partnership” between U.S. and Nippon in a May 23 post on his social media platform Truth Social, causing confusion among investors and union members about whether the structure of the original deal had changed somehow.
Read more: https://www.cnbc.com/2025/06/18/us-steel-ceases-trading-on-the-nyse-as-japans-nippon-finalizes-takeover.html
That didn't take long. ETA and the name "US Steel", which was promised to stay the same, is gone.
Article updated.
Previous updates -
U.S. Steel shares stopped trading on the New York Stock Exchange on Wednesday after Japan's Nippon Steel completed its acquisition of the iconic American industrial name. President Donald Trump has insisted for weeks that the companies would form a "partnership" in which U.S. Steel would remain American owned.
But the New York Stock Exchange notified the Securities and Exchange Commission on Wednesday that U.S. Steel's shares would be removed from listing, after the company became a wholly owned subsidiary of Nippon Steel North America. U.S. Steel shares stopped trading at 8:30 a.m. ET on Wednesday after Nippon completed its acquisition, according to a notice from the NYSE.
Trump opposed Nippon's bid to acquire U.S. Steel in the runup to the 2024 presidential, but he changed his mind after he took office. Trump ordered a new review of the deal in April after former President Joe Biden had blocked Nippon's acquisition in January, citing national security concerns.
Trump announced a "partnership" between U.S. and Nippon in a May 23 post on his social media platform Truth Social, causing confusion among investors and union members about whether the structure of the original deal had changed somehow.
U.S. Steel shares stopped trading on the New York Stock Exchange on Wednesday after Japan's Nippon Steel completed its acquisition of the iconic American industrial name.
President Donald Trump has insisted for weeks that the companies would form a "partnership" in which U.S. Steel would remain American owned.
But the New York Stock Exchange notified the Securities and Exchange Commission on Wednesday that U.S. Steel's shares would be removed from listing, after the company became a wholly owned subsidiary of Nippon Steel North America. U.S. Steel shares stopped trading at 8:30 a.m. ET on Wednesday after Nippon completed its acquisition, according to a notice from the NYSE.
The deal was politically controversial from the moment Nippon and U.S. Steel signed a merger agreement in December 2023, as Democrats and Republicans have taken an increasingly protectionist toward U.S. industry in recent years.
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U.S. Steel shares stopped trading on the New York Stock Exchange on Wednesday after Japan's Nippon Steel completed its acquisition of the iconic American industrial name.
President Donald Trump has insisted for weeks that the companies would form a "partnership" in which U.S. Steel would remain American owned.
But the New York Stock Exchange notified the Securities and Exchange Commission on Wednesday that U.S. Steel's shares would be removed from listing, after the company became a wholly owned subsidiary of Nippon Steel North America.
This is breaking news. Please refresh for updates.
Original article -
U.S. Steel shares stopped trading on the New York Stock Exchange on Wednesday after Japan's Nippon Steel completed its acquisition of the iconic American industrial name.
This is breaking news. Please refresh for updates.
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