The Japanese company Nippon Steel for 14.9 billion. The US dollar is bought by the United States Steel Corporation, which was once the largest steel producer in the world.
The Japanese will pay $55 a share, a significant premium since the stock closed at $38 last week.
$55 per share is almost twice the price of the competitor Cleveland Cliffs the price offered a couple of months ago. Back then United States Steel Corporation declined this offer, however Nippon Steel the offer was accepted, they say Reuters.
Following news of the deal on Monday United States Steel Corporation the share price increased by 26% and reached 49 dollars.
2023-12-19 11:29:38
#Japanese #buying #flagship #steel #industry
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