American steelmaking giant sold to foreign company ...News

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American steelmaking giant sold to foreign company
Japan’s Nippon Steel has agreed to buy US Steel in a takeover valued at $14.9 billion US Steel, a symbol of American industrialization and once the largest corporation on the planet, has agreed to a takeover by Japan’s Nippon Steel in a $14.9 billion deal that lawmakers from both of Washington’s major political parties have vowed to block. The companies announced the deal on Monday, saying Nippon Steel will pay $55 in cash for each share of US Steel, or around $14.1 billion. The buyer also will assume around $800 million in debt. US Steel said it expects the deal to close in 2024’s second or third quarter, pending

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