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.

The Japanese company secured its much-wanted prize late last week when President Trump approved the $14.1 billion purchase of US Steel

President Donald Trump has signed an executive order paving the way for a Nippon Steel investment in U.S. Steel, so long as the Japanese company complies with a “national security agreement” submitted

TOKYO -- Nippon Steel's long-sought $14.1 billion acquisition of U.S. Steel and a reported pledge of $14 billion in additional investment are raising concerns about the financial impact on the Japanese steelmaker and whether it will contribute enough profit to be worth the cost.

There are reports that Nippon will spend billions of dollars on U.S. Steel facilities in Pennsylvania, Alabama, Arkansas, Minnesota and Indiana.

The partnership between US Steel Corp and Nippon Steel Corp has reached a new phase, with an agreement on US national security guarantees, in addition to the so-called “golden share” advantage obtained by US President Donald Trump’s administration.