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-based Nippon Steel on Wednesday completed its buyout of U.S. Steel, changing its name to Nippon Steel North America, as the former U.S. industrial giant ended trading on Wall Street under its former brand name.

U.S. Steel said Wednesday it finalized its merger with Japan’s largest steelmaker, Nippon.  President Trump lauded the acquisition as a partnership in which the U.S. would maintain a “golden