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home / news releases / NPSCY - U.S. Steel May Have To Face The Music

NPSCY - U.S. Steel May Have To Face The Music

Nippon Steel Corporation - ADR

2024-02-05 16:33:08 ET

Summary

  • US Steel is being acquired by Nippon Steel for $15 billion, but the deal is facing pushback due to antitrust concerns.
  • CEO Lourenco Goncalves of Cleveland Cliffs may come back to the table with a much more modest offer at a lower valuation if the Nippon deal were to falter.
  • The macro outlook for the steel industry appears mixed as the IRA, Infrastructure Bill, and the CHIPS Act are each expected to begin funding in 2024.

For further details see:

U.S. Steel May Have To Face The Music
Stock Information
Company Name: Nippon Steel Corporation - ADR
Stock Symbol: NPSCY
Market: OTC
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