Nippon Steel Corp. completed acquisition of United States Steel Corp. for $14.1 billion, completing an 18-month merger of the Japanese and American steel giants. The companies announced this in a joint statement on Wednesday.
The deal provides for a cash payment of $55 per share and makes the combined company the world's second-largest steel corporation. The new player is becoming a serious competitor in the American steel market. For Nippon Steel, it also means gaining an important manufacturing base in the US, which will avoid the 50% steel tariffs imposed by the administration of President Donald Trump.
Trading in US Steel shares on the New York Stock Exchange was suspended on Wednesday due to the completion of the transaction.
The companies previously agreed with the Trump administration to close the deal, which was first announced in December 2023. As part of the agreement, the Japanese side pledged to invest an additional $11 billion in the American manufacturer with headquarters in Pittsburgh.
