Date:	--/--/-- --:--:--
Event Id:	E4YEQ3UPW
Action Type:	ACQUISITION
Action Status:	COMPLETED
Acquirer Symbol:
Target Symbol:	X
Updated:	--/--/-- --:--:--
Purchase Price Per Share:	55
Price Per Share Currency:	USD
News References:	https://investors.ussteel.com/news-events/news-releases/detail/730/nippon-steel-corporation-and-u-s-steel-finalize-historic

Action Notes

Nippon Steel Corporation Japan's largest steelmaker and one of the world's leading steel manufacturers, and United States Steel Corporation a leading steel producer with competitive advantages in low-cost iron ore, mini mill steelmaking, and best-in-class finishing capabilities, today announced that they have entered into a definitive agreement pursuant to which NSC will acquire U. S. Steel in an all-cash transaction at $55.00 per share, representing an equity value of approximately $14.1 billion plus the assumption of debt, for a total enterprise value of $14.9 billion. The $55.00 per share purchase price represents a 40% premium to U. S. Steel's closing stock price on December 15, 2023. The transaction has been unanimously approved by the Board of Directors of both NSC and U. S. Steel. The transaction is expected to close in the second or third quarter of calendar year 2024, subject to approval by U. S. Steel's shareholders, receipt of customary regulatory approvals and other customary closing conditions. NSC plans to fund the transaction through proceeds mainly from borrowings from certain Japanese banks and has already secured financing commitments. The transaction is not subject to any financing conditions. The US Steel special shareholder meeting to vote on the transaction will be held on 04/12. US Steel shareholders approved the transaction on 04/12.05/30 U. S. Steel and Nippon Steel currently expect that the transaction will be completed in the second half of 2024, subject to the fulfillment of the remaining, customary closing conditions, including the receipt of required U.S. regulatory approvals.1/6 Nippon Steel and U. S. Steel File Multiple Lawsuits in Response to Wrongful Interference with the Proposed Acquisition of U. S. Steel.1/13 Transaction is still penidng,