Nippon Steel to acquire US Steel for $14.9bn.

Nippon Steel, Japan’s largest steelmaker, agreed to acquire US Steel, an American integrated steel producer headquartered in Pittsburgh, Pennsylvania, for $14.9bn. “We are excited that this transaction brings together two companies with world-leading technologies and manufacturing capabilities, demonstrating our mission to serve customers worldwide, as well as our commitment to building a more environmentally friendly society through the decarbonization of steel. NSC has long admired USSteel with deep respect for its advanced technologies, rich history, and talented workforce and we believe we can jointly take on the challenge of raising our aspirations to even greater heights. The transaction builds on our presence in the United States and we are committed to honoring all of US Steel’s existing union contracts. We look forward to collaborating closely with the US Steel team to bring together the best of our companies and move forward together as the ‘Best Steelmaker with World-Leading Capabilities’,” Eiji Hashimoto, Nippon Steel Corporation President. On April 12, 2024, US Steel stockholders approve the deal with Nippon Steel.