U.S. Steel Shareholders Overwhelmingly Approve $14.9B Nippon Steel Acquisition Despite Controversy

• U.S. Steel shareholders approved $14.9B acquisition by Nippon Steel with over 98% in favor • Deal has faced political opposition citing national security concerns and potential job losses • Powerful CFIUS panel reviewing deal, Justice Dept. opened antitrust probe into takeover • Nippon pledged no job cuts, to honor union agreements, move HQ to Pittsburgh • Expected closing pushed back to 2nd half 2024 due to controversy and scrutiny around deal