Jerry 976 Posted December 18, 2023 Share Posted December 18, 2023 Nippon Steel Acquires US Steel for over 14 Billion........... God Bless the USA Click the link below for the full story https://apnews.com/article/us-steel-nippon-steel-acquired-industrialization-1a174c359756efd3ee0f0f9172a3bd6b U.S. Steel, the Pittsburgh steel producer that played a key role in the nation’s industrialization, is being acquired by Nippon Steel in an all-cash deal valued at approximately $14.1 billion. The transaction is worth about $14.9 billion when including the assumption of debt. The combined company will be among the top three steel-producing companies in the world, according to 2022 figures from the World Steel Association. The price tag for U.S. Steel is nearly double what was offered just four months ago by rival Cleveland Cliffs. U.S. Steel, which rejected that offer, confirmed the offering price from Nippon early Monday. That tie-up would have created one of the top four outside of China, which dominates global steel production. U.S. Steel executives were asked about a potential pushback from U.S. regulators over security concerns on Monday. Quote Link to comment Share on other sites More sharing options...
f7ben Posted December 18, 2023 Share Posted December 18, 2023 I’m happy with it Quote Link to comment Share on other sites More sharing options...
mtnloverxtreme2 Posted December 18, 2023 Share Posted December 18, 2023 MC is having a stroke Quote Link to comment Share on other sites More sharing options...
Mainecat Posted December 18, 2023 Share Posted December 18, 2023 20 minutes ago, mtnloverxtreme2 said: MC is having a stroke I’m cancelling my steel order. 2 Quote Link to comment Share on other sites More sharing options...
f7ben Posted December 18, 2023 Share Posted December 18, 2023 I’m excited to see what might change but I have a feeling nothing is really gonna change. Quote Link to comment Share on other sites More sharing options...
Deephaven Posted December 19, 2023 Share Posted December 19, 2023 At least it is Japanese, unlike the rest of Asia they make good steel and aren't thieves. Quote Link to comment Share on other sites More sharing options...
f7ben Posted December 19, 2023 Share Posted December 19, 2023 47 minutes ago, Deephaven said: At least it is Japanese, unlike the rest of Asia they make good steel and aren't thieves. The more I think about this deal the more I like it. Fuck Cliffs Quote Link to comment Share on other sites More sharing options...
Deephaven Posted December 19, 2023 Share Posted December 19, 2023 The only sad part is that we could not have won the war against Japan without US steel and now Japan owns it. Of course considering employees, vendors, and no one at US Steel was really happy anymore it is a logical thing to do. That being said, it will probably be like Cat and run down and sold off again in 5 years. I hope the Japanese can turn it around! Quote Link to comment Share on other sites More sharing options...
f7ben Posted December 19, 2023 Share Posted December 19, 2023 (edited) 1 hour ago, Deephaven said: The only sad part is that we could not have won the war against Japan without US steel and now Japan owns it. Of course considering employees, vendors, and no one at US Steel was really happy anymore it is a logical thing to do. That being said, it will probably be like Cat and run down and sold off again in 5 years. I hope the Japanese can turn it around! US Steel had already turned itself around. We weren’t a dominant multifaceted mega conglomerate anymore but we were certainly a streamlined steel producer with quality assets. Obviously that is why we generated the interest and offers we did Edited December 19, 2023 by f7ben 2 Quote Link to comment Share on other sites More sharing options...
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