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Title: Japan's Nippon Steel To Buy US Steel For $14 Billion
Source: [None]
URL Source: https://www.zerohedge.com/markets/j ... -steel-buy-us-steel-14-billion
Published: Dec 18, 2023
Author: Mike Rivero
Post Date: 2023-12-18 10:20:48 by Horse
Keywords: None
Views: 42

Nippon Steel Corp., Japan's largest steel production company, announced Monday morning that it will acquire Pittsburgh-based US Steel in an all-cash deal, valued at $55 per share, which equates to more than 2 trillion yen or about $14 billion.

At $55 in cash, the deal is a 40% premium to the closing price of US Steel shares on Friday. Shares of X are up 27% in premarket trading in New York, around $50 a share.

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