Nippon Steel Corporation Announced Acquisition of U.S. Steel

The acquisition transaction has received unanimous approval of the Board of Directors of both the companies.

SEATTLE (Scrap Monster): Nippon Steel Corporation (NSC) - Japan’s largest steelmaker and United States Steel Corporation (U.S. Steel) have entered into a definitive agreement, pursuant to which NSC will acquire U.S. Steel in an all-cash transaction.

The total enterprise value of the deal is estimated at $14.9 billion. The purchase price of $55 per share represents a 40% premium to the closing price of the stock on 15^th December, 2023. The acquisition transaction has received unanimous approval of the Board of Directors of both the companies.

ALSO READ:

U.S. Steel Received Multiple Bids in Excess of $40 a Share, Sources Say

U.S. Steel Minnesota Operations Generated Significant Economic Impact

The acquisition of U.S. Steel will further diversify NSC’s global footprint by significantly expanding its current production in the U.S., adding to its primary geographies of Japan, ASEAN and India. The transaction will lift NSC’s annual crude steel capacity to 86 million tonnes, thus accelerating its progress towards its strategic goal of 100 million tonnes of global crude steel capacity per annum.

The transaction brings together two companies with world-leading technologies and manufacturing capabilities. NSC will honor all of U.S. Steel’s existing union contracts. The combination of the two steel majors will further strengthen the ability to address growing demand for high-grade steel in the U.S. and across the globe. Furthermore, it will drive the global steel industry towards decarbonization and a more sustainable world.

• Panama President Sees No Environmental Threat from Copper at Closed First Quantum Mine
• Consumers Sue Exxon, Dow, Others over Plastic Recycling Claims
• VLS Environmental Solutions Announces Acquisition of Clearfield MMG in Virginia
• December 19, 2024: Scrap Gold and Platinum Prices Dipped, Silver Up on the Index