Nippon Steel completes its purchase of U.S. Steel after more than a year and half of high-stakes negotiations and national security concerns.

Japanese steel giant Nippon Steel has finalized its $14.9 billion acquisition of U.S. Steel (NYSE: X), ending an 18-month political and regulatory battle. The deal is a win for President Donald Trump’s administration, which negotiated a “golden share” giving the US government sweeping veto rights.

To save its takeover of U.S. Steel, Japan’s Nippon Steel agreed to an unusual arrangement, granting the White House a “golden share” that gives the government an extraordinary amount of influence over a U.