Storied US Steel To Be Acquired For More Than $14 Billion By Nippon Steel theyeshivaworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theyeshivaworld.com Daily Mail and Mail on Sunday newspapers.
US Steel, the Pittsburgh steel producer that played a key role in the nation’s industrialisation, is being acquired by Nippon Steel in an all-cash deal valued at approximately USD 14.1 billion.
The transaction is worth about USD 14.9 billion when including the assumption of debt.
The price tag
Nippon Steel plans to acquire U.S. Steel for $14.9 billion, justifying the 142% premium with "sufficient economic rationale," despite a 5.5% drop in its shares. The move aims to expand the Japanese giant s global steel capacity to 100 million metric tons. The deal, priced at 7.3 times U.S. Steel s EBITDA, positions Nippon Steel among the top 3 global steelmakers.
U.S. Steel, the Pittsburgh steel producer that played a key role in the nation’s industrialization, is being acquired by Nippon Steel in an all-cash deal valu