President Trump on Friday cleared the way for Japan-based Nippon Steel to potentially acquire U.S. Steel, though details about the structure of the deal — including a possible "golden share" held by the federal government — remain unclear.

President Trump signs executive order allowing U.S. Steel partnership with Japan's Nippon Steel, with an $11 billion investment commitment.

U.S. President Donald Trump said on Thursday the United States had a "golden share" in U.S. Steel as part of a deal for Nippon Steel to buy the iconic American company.

The bulk of expenditures would be made in the next 14 months, he said, and it will create and save more than 100,000 American jobs, including 14,000 in Pennsylvania. As part of the deal, U.S. Steel will maintain all its current operating blast furnaces at full capacity for at least the next 10 years.

WASHINGTON (Reuters) -A U.S. Appeals court on Friday extended a pause in litigation between Nippon Steel and the Trump administration as the two sides put the finishing touches on an agreement that would allow the Japanese steelmaker to acquire U.S. Steel.

By Alexandra Alper (Reuters) -Shares of U.S. Steel dipped after a Nippon Steel executive told the Japanese Nikkei newspaper that its planned takeover of the company required "a degree of management freedom" to go ahead,