This isn’t just another corporate deal—it’s a major shift for an iconic American company and a test of how foreign ownership plays out in sensitive industries. The government’s sign-off suggests concerns were resolved, but it’ll be interesting to see how workers, politicians, and competitors react now that the ink’s dry.

The companies said they had entered into an agreement with the U.S. government to alleviate any national security concerns. A Nippon Steel plant in Kashima, Japan. The Japanese company had reached a $14.9 billion deal to acquire U.S. Steel a year ago.

U.S. Steel and Japan’s Nippon Steel have finalized their long-discussed partnership after striking a deal with the U.S. government to address national security worries. The $14.9 billion acquisition, first announced a year ago, had been under scrutiny, but now it’s officially moving forward.