Nippon Steel Corporation (NSC) and United States Steel Corporation (U.S. Steel) have entered into a definitive agreement for NSC to acquire U.S. Steel in an all-cash transaction at $55.00 per share, representing an equity value of approximately $14.1 billion plus the assumption of debt, for a total enterprise value of $14.9 billion.
The acquisition, which has been unanimously approved by the Board of Directors of both NSC and U.S. Steel, is expected to enhance NSC’s world-leading manufacturing and technology capabilities, allowing it to expand its global footprint, particularly in the United States. The transaction aims to drive the global steel industry towards decarbonization and sustainability.
President and Chief Executive Officer of U. S. Steel, David B. Burritt, said, “NSC has a proven track record of acquiring, operating, and investing in steel mill facilities globally – and we are confident that, like our strategy, this combination is truly Best for All. This transaction realizes the tremendous value today in our company and is the result of our Board of Directors’ comprehensive and thorough strategic alternatives process.