Nippon Steel Corp. received US approval for its $14.1 billion acquisition of United States Steel Corp., to create one of the world's largest steel companies. The deal includes a national security agreement and substantial monetary investments.

United States Steel shares are jumping in premarket trading Monday, as the Pittsburgh-based company’s takeover by Japan’s Nippon Steel looks set to close following the deal's approval by President Donald Trump.

President Donald Trump is a businessman who became a politician. Now he's both. Trump will have "unique influence" over the operations of U.S. Steel under a new arrangement to allow Nippon Steel to complete its multibillion-dollar takeover of the iconic American company, said ABC News.

The companies said they had entered into an agreement with the U.S. government to alleviate any national security concerns.

Trump admin officials provided additional insight into the "golden share" arrangement that the federal government made as a condition for supporting the deal.

The U.S. Steel and Nippon deal continues to be a point of contention between labor and the presidential administration. President Trump is celebrating what he's calling a majority 51% American ownership.