Nippon Steel to acquire Pittsburgh-based US Steel for $14.1bn
by Associated Press from US news | The Guardian on (#6H7K7)
All-cash deal will see company keep name and headquarters in Pittsburgh, where it was founded in 1901
US Steel, the Pittsburgh steel producer that was once the world's largest company and played a key role in the nation's industrialization, is being acquired by Nippon Steel in an all-cash deal valued at approximately $14.1bn.
The price tag for US Steel is nearly double what was offered just four months ago by rival Cleveland Cliffs. US Steel, which rejected that offer, confirmed the offering price from Nippon early on Monday.
Continue reading...