From Cato’s Scott Linsicome:
This perpetual golden share prevents any of the following from occurring without the consent of the president of the United States or his designee:
Relocate U.S. Steel’s headquarters from Pittsburgh, Pennsylvania.
Redomicile outside the United States
Change the name of the company from U.S. Steel
Reduce, waive, or delay the $14 billion of near-term investments into U.S. Steel
Transfer production or jobs outside the United States
Close or idle plants before certain timeframes other than normal course temporary idling for safety, upgrades, etc.
Other protections regarding employee salaries, anti-dumping pricing, raw materials and sourcing outside the U.S., acquisitions, and more.
The AP adds that the golden share also gives the president “the authority to name one of the corporate board’s independent three directors and veto power over the other two choices.” Presumably other terms will emerge soon, but—regardless—these details are sufficient to turn my views on the U.S. Steel deal from vigorous support to aghast opposition.