© Maximilian Pogonii | Dreamstime.com

U.S. Steel Shareholders Approve $14.9 Billion Deal with Nippon Steel

April 15, 2024
Nippon has pledged to move its U.S. headquarters from Houston to the USS operation in Pittsburgh.

On Friday, U.S. Steel shareholders approved the acquisition by Nippon Steel in a $14.9 billion deal. The companies expect to close the deal in the second or third quarter of this year. Nippon will pay $55 per share in the merger.

“Directors and shareholders accepted the Nippon Steel bid in preference to a takeover by rival Cleveland-Cliffs, another American brand with an industrial legacy,” writes American Machinist Content Director Robert Brooks.

With the addition of USS assets, Nippon is expected to become the third-largest organization in the global steel industry.

Learn more from IndustryWeek’s partner brand American Machinist.

Sponsored Recommendations

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!