Nippon Steel Closes Acquisition of US Steel to End 18-Month Saga

Nippon Steel Corp. closed its $14.1 billion acquisition of United States Steel Corp., bringing an end to a bruising takeover battle that was embroiled in American politics for months until finally gaining support from US President Donald Trump.

The transaction closes exactly 18 months after the two steelmakers first announced their surprising tie-up, a timeline veteran traders called one of the most unique they’ve ever witnessed. The controversial deal weathered two presidential administrations, union opposition, an expensive lobbying campaign and two US security panel reviews.

“This has been an unprecedented situation that got completely politicized — the fact that the ...