Deals
Nippon Steel Boosts M&A Case With $1.3 Billion Spend at US Mills
- Additional investments pledged for Mon Valley, Gary operations
- The plants are among the legacy shops operated by US Steel
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Nippon Steel Corp. announced $1.3 billion in investments at US mills owned by United States Steel Corp. as the Japanese company steps up efforts to win over workers and politicians for its bid to buy the Pittsburgh-based steelmaker.
Seeking to allay concerns over job security at plants that use traditional blast-furnace production from iron ore, Nippon Steel said it would spend the money at the Mon Valley and Gary Works as part of its pending $14.1 billion takeover of US Steel. The American company’s shares rose on Thursday.