The key to buying U.S. Steel might be a golden share. Nippon Steel executives might feel it’s their Golden Ticket.
The share, which would give Washington veto rights on major decisions, is reported to be the key to getting the contentious, long-running $14.1 billion deal for U.S. Steel over the finishing line, in a move that could be announced Friday.
That a bid vehemently opposed by two separate U.S. presidents, and which looked dead in the water on more than one occasion, might now happen is a testament to Nippon Steel’s perseverance. But the Japanese firm may come to regret its generosity: The Golden Ticket of Charlie and the Chocolate Factory sounds nice until you recall what happened to the four others who accompanied him.
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