Nippon Steel buys US Steel

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The Japanese giant Nippon Steel has announced that it would buy the United States Steel Corporation for a total of $14.9 billion. The US Steel shares reacted to the news with a jump of 27.30% that resulted in a price at $49.90 at the start of the day's trading.

The trading price was still below the offer of Nippon Steel. The company intends to buy out all shares for a price of $55.00. The offer is a premium of 142% on the price of August 11, when the process was started.

The offer is set to occur in an all-cash buy out and the Japanese company has announced that it has already secured the needed financing.

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