US Steel sells to Nippon Steel

[CM1995]

A once iconic American brand is sold to a Japanese company.

Nippon Steel Corporation (NSC) to Acquire U. S. Steel, Moving Forward Together as the ‘Best Steelmaker with World-Leading Capabilities’

NSC to acquire U. S. Steel for $55.00 per share in an all-cash transaction representing 40% premium, providing certain and immediate value to U.…...

investors.ussteel.com

There's a lot to unpack here on this transaction.

 

[ahart]

Pretty amazing the things 80 years will change…

 

[MG84]

If a company has to go I’d much rather see it go to Japan than China...

 

[Junkyard]

Yeah there is considering a lot of the steel that defeated Japan was made by them…..

I can recall a story pop used to tell me about Japan buying up all our scrap in the 1920’s and early 30’s. He said if we’re not careful they’ll be shooting it back at us.

 

[OzDozer]

Lemme see.

U.S. Steel - 22,700 employees and produces 22 million tons of steel annually.

Nippon Steel - 100,000 employees and produces 66 million tons of steel annually.

China - 3.2 million steel industry employees, and produces 1.33 BILLION tons of steel annually.

Move along, nothing to see here, folks, just a small fish swallowing a minnow in the shark tank.