Japanese steel company purchasing Pittsburgh-based U.S. Steel in deal worth nearly $15 billion

PITTSBURGH (KDKA)– The United States Steel Corporation is being acquired by the Nippon Steel Corporation, the biggest steelmakerin Japan

The firms introduced the information of the acquisition early Monday early morning and state that it will certainly be an all-cash purchase at a worth of $55 per share, making the overall deal worth nearly $15 billion, consisting of Nippon getting U.S. Steel’s financial debt.

As component of the arrangement, U.S. Steel, which was established in 1901 by Andrew Carnegie, J.P. Morgan, and Charles Schwab, will certainly maintain its famous name and head office in Pittsburgh and all cumulative negotiating arrangements with the United Steelworkers Union will certainly be recognized.

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