Nippon Steel to Acquire U.S. Steel in $14.1 Billion Deal

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Nippon Steel to Acquire U.S. Steel in $14.1 Billion Deal

Japan's Nippon Steel is moving forward with a deal to acquire U.S. Steel at $55 per share in a transaction valued at approximately $14.1 billion. This all-cash acquisition reflects an enterprise value of $14.9 billion, factoring in the existing debt. The announcement highlights a strategic partnership aimed at bolstering Nippon Steel's footprint in the American market.

The proposal received overwhelming approval from U.S. Steel shareholders, with over 98% voting in favor as disclosed on April 12, 2024. However, the acquisition has faced hurdles, particularly from the Biden administration, which expressed national security concerns, prompting legal challenges and potentially delaying the executive order intended to block the merger. Notably, former President Donald Trump has voiced support for the transaction, emphasizing job creation and investment benefits, including maintaining U.S. Steel's headquarters in Pittsburgh.

Nippon Steel has assured stakeholders that it plans to honor all existing labor agreements and will not pursue any layoffs or permanent plant closures as part of the merger. Meanwhile, U.S. Steel's stock responded positively, surging by 21% and hitting peak levels not seen since 2011, according to reports from El País. The deal's progress continues to unfold amidst complex political and economic considerations.

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