Japan’s Nippon Takes Over U.S. Steel
After months of bidding, U.S. Steel finally has a buyer. However, the auction’s winner has some parties concerned. 🤔
Japan’s Nippon Steel emerged as the top bidder for the 122-year-old steelmaker, beating out offers from Cleveland-Cliffs, ArcelorMittal, and Nucor. Its $55 per share price represents a 142% premium to where $X shares were trading before Cleveland-Cliffs’ $35-per-share offer kicked off the bidding war.