Japanese firm Nippon Steel has completed its long-sought takeover of a smaller American company, after agreeing to yield unusual control to the US government. The $14.9bn (£11bn) purchase of US Steel,

Japan’s Nippon Steel Corporation announced that it has finalised its US$ 15 billion takeover US Steel Corporation, to form a world-leading steelmaker with “best-in-class technologies and manufacturing capabilities.

Nippon Steel completes its purchase of U.S. Steel after more than a year and half of high-stakes negotiations and national security concerns.