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Nippon Steel acquires US Steel
Posted on 12/18/23 at 9:06 am
Posted on 12/18/23 at 9:06 am
14.1 Billion in cash. Double what Cleveland offered them earlier this year.
Jeez louis
LINK
Jeez louis
quote:
Pittsburgh’s steel giant U.S. Steel is being sold to Japan’s largest steelmaker in a multibillion sale.
Nippon Steel Corp. and U.S. Steel announced Monday morning that the corporations have entered into a definitive agreement in which Nippon Steel will acquire U.S. Steel in a $14.9 billion sale.
The announcement comes after weeks of speculation and U.S. Steel weighing multiple offers to sell the iconic Pittsburgh-based company.
U.S. Steel President and CEO David Burrit said Nippon Steel has a proven track record in the steel industry and is confident the acquisition will be best for all parties. The sale at $55 per share represents a 40% premium to U.S. Steel’s closing stock price on Friday.
LINK
2
Posted on 12/18/23 at 9:21 am to beebefootballfan
Hopefully they make some additional investments in US steel production. The US is overpaying on steel since the trump tarriffs.
Posted on 12/18/23 at 10:57 am to beebefootballfan
All setting up perfectly for Elon to take Twitter back public under the symbol "X". Dude is playing 4D chess... ha
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