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 […]

Glencore to acquire 77% stake in Teck’s steelmaking coal business for $6.9bn

Glencore to acquire 77% stake in Teck’s steelmaking coal business for $6.9bn

Glencore plc has announced its binding agreement with Teck Resources Limited for the acquisition of a 77% effective interest in Teck’s steelmaking coal business, Elk Valley Resources (EVR), for a substantial sum of US$6.93 billion in cash. This transaction is set to bolster Glencore’s position in the coal industry, marking a pivotal moment in their […]