Japan's Nippon Steel Acquires US Steel for $14.1 Billion

Nippon Steel has completed its $14.1 billion acquisition of United States Steel Corp., ending an 18-month effort to merge the American and Japanese steelmakers, according to a statement from the companies on Wednesday. The $55-per-share cash deal creates the world's second-largest steelmaker and makes the combined entity a formidable competitor in the US steel industry. Nippon Steel also gains a significant foothold in the United States, helping it avoid the 50% tariffs imposed by US President Donald Trump on steel. According to the statement, Nippon Steel and U.S. Steel reached a conditional agreement with the Trump administration on Friday, allowing the deal, first announced in December 2023, to close after the Japanese company agreed to an additional $11 billion investment in the Pittsburgh-based U.S. steel company.