Steelworkers lose battle to stop U.S. Steel’s $14.1bn foreign takeover

Steelworkers lose battle to stop U.S. Steel’s $14.1bn foreign takeover

United States Steel Corporation has secured a decisive victory over a challenge brought by the United Steelworkers union regarding its planned $14.1 billion acquisition by Japan’s Nippon Steel Corporation. The arbitration ruling on 25th September 2024 has given the green light for the deal to proceed, confirming that Nippon Steel’s commitments to maintain labour agreements, […]

Nippon Steel offloads $211m in assets as U.S. Steel takeover hits political storm!

Nippon Steel offloads $211m in assets as U.S. Steel takeover hits political storm!

Nippon Steel Corporation, one of Japan’s largest steelmakers, is selling $211 million worth of assets in a strategic move to manage its ballooning debt, a consequence of its ambitious bid to acquire U.S. Steel Corporation for $14.9 billion. This disposal, which includes real estate and inventories, comes as Nippon Steel braces for significant financial challenges […]

U.S. Steel’s stock climbs after bullish guidance, Nippon Steel acquisition optimisms

U.S. Steel’s stock climbs after bullish guidance, Nippon Steel acquisition optimisms

U.S. Steel Corporation’s stock surged 2% after the company updated its third-quarter financial outlook and reaffirmed its confidence in closing its acquisition by Nippon Steel Corporation by the end of 2024. The deal, valued at $14.9 billion, is anticipated to bring substantial benefits to both firms as they consolidate their capabilities within the global steel […]

US Steel shares jump amid uncertainty over Nippon Steel merger decision

US Steel shares jump amid uncertainty over Nippon Steel merger decision

U.S. Steel Corporation is witnessing a stock surge amid reports that the White House is delaying a decision on the proposed $14.1 billion acquisition by Japan’s Nippon Steel Corporation. Initially, U.S. President Joe Biden seemed inclined to block the deal, driven by concerns over national security and economic implications, especially in the run-up to the […]

Kamala Harris steps in to block foreign takeover of U.S. Steel! Is America’s industry at risk?

Kamala Harris steps in to block foreign takeover of U.S. Steel! Is America’s industry at risk?

American Vice President Kamala Harris is expected to oppose the proposed takeover of United States Steel Corporation by Nippon Steel Corporation, Japan’s largest steelmaker, during a joint campaign appearance in Pittsburgh, Pennsylvania, with President Joe Biden. This development adds significant political weight to the ongoing debate over the potential foreign acquisition of a major American […]

Massive $1.3bn investment by Nippon Steel propels U.S. Steel stock – What’s next?

Massive $1.3bn investment by Nippon Steel propels U.S. Steel stock – What’s next?

United States Steel Corporation’s stock experienced a notable surge as Nippon Steel Corporation announced a commitment of $1.3 billion for upgrading U.S. Steel plants in Pennsylvania and Indiana. This investment is part of Nippon Steel’s broader strategy to strengthen its position within the U.S. steel market, where it sees significant growth potential amid declining demand […]

ArcelorMittal Nippon Steel India commits to 20% emission reduction by 2030

ArcelorMittal Nippon Steel India commits to 20% emission reduction by 2030

ArcelorMittal Nippon Steel India (AM/NS India) has unveiled its ambitious goal to reduce emissions intensity by 20% by 2030. This target, detailed in the company’s first Climate Action Report, represents a pivotal step in the decarbonisation journey of one of the world’s leading steelmakers. AM/NS India, a joint venture between ArcelorMittal and Nippon Steel, is […]

Nippon Steel to acquire U.S. Steel for $14.9bn in landmark deal

Nippon Steel to acquire U.S. Steel for $14.9bn in landmark deal

Nippon Steel Corporation (NSC), Japan’s leading steelmaker and a global industry giant, has announced a definitive agreement to acquire United States Steel Corporation (NYSE: X) in an all-cash transaction valued at approximately $14.9 billion, including debt assumption. The deal sets the purchase price at $55.00 per share, a 40% premium over U.S. Steel’s closing stock […]

ABB India to deliver electrification for ArcelorMittal Nippon Steel’s Gujarat facility

ABB India to deliver electrification for ArcelorMittal Nippon Steel’s Gujarat facility

ArcelorMittal Nippon Steel India (AMNS India) has selected ABB India to supply electrification and automation systems for its steel cold rolling mill (CRM) located in Hazira, Gujarat. The contract was awarded via John Cockerill India Limited (JCIL), the original equipment manufacturer for the project. AMNS India, a collaboration between global steel leaders ArcelorMittal and Nippon […]

Canadian miner Teck Resources to restructure steelmaking coal business

Canadian miner Teck Resources to restructure steelmaking coal business

Canadian mining company Teck Resources will separate its business into two independent, publicly-listed companies to offer investors a choice of enterprises with unique fundamentals and value propositions. Post-closing, Teck Resources will change its name to Teck Metals, a premier, growth-oriented energy transition metals producer, while the newly created Elk Valley Resources will be a pure-play, […]