After a year and a half of government talks, countless regulatory hiccups and last-minute negotiations, Nippon Steel Corp. secured its much-wanted prize late last week when President Donald Trump approved the $14.

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

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

Even before the political complications that have hampered Nippon Steel’s U.S. gambit, the offer price looked steep. At $55 a share, Nippon Steel will pay a 142% premium to the level U.S. Steel was trading at before it effectively put itself up for sale in 2023.

President Donald Trump would have unique influence over the operations of U.S. Steel under the terms of the investment being made by Nippon Steel. Administration officials over the past few days provided additional insight into the “golden share” arrangement that the federal government made as a condition for supporting the partnership.