Japan's Nippon Steel to acquire U.S. Steel for $14.9 billion winning over three major rivals

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"Japan's Nippon Steel clinched a deal on Monday to buy U.S. Steel (X.N) for $14.9 billion in cash, prevailing in an auction for the 122-year-old iconic steelmaker over rivals including Cleveland-Cliffs, ArcelorMittal and Nucor.

The deal price of $55 per share represents a whopping 142% premium to Aug. 11, the last trading day before Cleveland-Cliffs unveiled a $35-per-share, cash-and-stock bid for U.S. Steel. ..."

Japan's Nippon Steel to acquire U.S. Steel for $14.9 billion | Reuters