Between the Lines of the U.S. Steel Golden Share

James Brower spoke to Axios about the unique aspects of the U.S. Steel golden share agreement following its $14.1 billion takeover by Nippon Steel. He noted that "a direct appointment right for the federal government is extremely rare, though similar constructs have been used (very sparingly) by CFIUS in the past." The agreement allows the U.S. government to appoint a director and approve two others, providing a direct pipeline to the top of the United States government. This arrangement raises questions about the balance between national security concerns and ordinary business operations.

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