Gary Mayor Eddie Melton has been supportive of a deal between Nippon and U.S. Steel for months, citing how it would benefit Gary Works. In August, it was announced that Nippon Steel would invest $300 million into the local facility. A Nippon executive later said the company would invest $1 billion into Gary Works.

Strictly speaking, any type of special or dual-class share structure that offers more voting power to a bloc is a version of a golden share. What the White House has in mind, however, seems to be more targeted for the deal-making attempts between U.

President Donald Trump touted a "blockbuster agreement" between U.S. Steel and Japanese company Nippon Steel that he said would keep the U.S. steelmaker in Pittsburgh.