by Talk Business & Politics staff (staff2@talkbusiness.net)
U.S. Steel, which owns Big River Steel and other operations in Northeast Arkansas, is being acquired by Tokyo-based Nippon Steel Corp. in a $14.1 billion deal, the companies announced Monday (Dec. 18).
Nippon will pay $55 per share in an all-cash transaction, a 40% premium, for U.S. Steel. The companies said in a joint press release that U.S. Steel will retain its iconic name and headquarters in Pittsburgh.
Nippon Steel Corp. (NSC) is Japan’s largest steelmaker and one of the world’s leading steel manufacturers. The transaction has been unanimously approved by the board of directors of both companies and is expected to close in the third quarter of 2024.
