Nippon Steel has pledged to appoint a board for US Steel with a majority of US citizens if its $14.9bn deal for the company is approved, after vice-president Kamala Harris said on Monday that it should remain “American-owned and American-operated”.
The Japanese company, which launched its bid for US Steel in December, said on Wednesday that the board would also include three independent directors who are US citizens and that the “core senior management members” would be American.
It added that US Steel would be owned by Nippon Steel North America, a New York-based subsidiary of the Japanese company “that has operated in the United States for over 50 years”.
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