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Mergers & Acquisitions
Who's buying and who's selling iron and steel assets.
Latest News
Finkl Steel Parent Might Put Company on Sales Block
20 March 2024 - Swiss Steel Group is weighing whether to divest its specialty steel arm in North America, reports Recycling Today.
‘Our Transaction Delivers Clear Benefits to U. S. Steel,’ Says Nippon Steel
18 March 2024 - Nippon Steel Corp. is reiterating what it says are the benefits of its planned acquisition of United States Steel Corporation, arguing that the deal would bolster U.S. supply chains.
Biden Weighs in on U. S. Steel Acquisition
14 March 2024 - U.S. President Joe Biden is opposed to Nippon Steel Corp.’s planned acquisition of United States Steel Corporation, saying Thursday that it is important that the U.S. maintain “strong American steel companies powered by American steel workers,” according to the Associated Press.
ArcelorMittal Buys Equity Position in Vallourec
13 March 2024 - ArcelorMittal has acquired a 28.4% equity stake in French tubemaker Vallourec, the steelmaker has announced.
USW Reports on Meeting With Nippon Steel
12 March 2024 - Nippon Steel Corp. and the United Steelworkers (USW) union met late last week to discuss the company’s acquisition of United States Steel Corporation, but the union said it remains unassured.
United Steelworkers Union, Nippon Steel Sign Nondisclosure Agreement
29 February 2024 - The United Steelworkers (USW) union has signed a nondisclosure agreement with Nippon Steel Corp., a precursor to allowing discussion between the labor union and the acquirer of United States Steel Corporation to proceed.
Salzgitter Divests Mannesmann Stainless Tubes Business
20 February 2024 - Italy's Cogne Acciai Speciali has acquired the Mannesmann Stainless Tubes Group from Salzgitter Ag for EUR135 million, Salzgitter said on Tuesday.
Goncalves: Cleveland-Cliffs Won’t Backstop U. S. Steel Sale
05 February 2024 - Cleveland-Cliffs Inc.’s bid for United States Steel Corporation is off the table and won’t be put back on should Nippon Steel Corp.’s plan to acquire the iconic manufacturer fall through, reports the Bloomberg news service.
Acquisition to Expand North American Stainless Footprint
05 February 2024 - Acerinox subsidiary North American Stainless is acquiring high-performance alloys maker Haynes International in a cash deal valued at US$970 million, the companies announced Monday.
Japanese Banks Back Nippon Steel Acquisition of U. S. Steel
30 January 2024 - Nippon Steel Corp. has lined up US$16 billion in loans for its planned acquisition of United States Steel Corporation, the Reuters news service reports.
Nippon Steel: We’re the Right Investor for U. S. Steel
23 January 2024 - Nippon Steel Corp.’s leading executives on Tuesday reiterated promises that the company would honor United States Steel Corporation’s collective bargaining agreements and would share technology that would improve the iconic steelmaker’s competitiveness.
NSC-USS Sale Doesn’t Impact National Security, Says Former Treasury Secretary
19 January 2024 - Former Treasury Secretary Lawrence Summers said national security is a non-issue when it comes to the Nippon Steel Corp. acquisition of United States Steel Corporation, reports the Bloomberg news service.
USW Files Grievances over U. S. Steel Sale
15 January 2024 - The United Steelworkers union is challenging United States Steel Corporation’s proposed sale to Nippon Steel Corp., arguing that U. S. Steel violated terms of the basic labor agreement with the union, reports the Pittsburgh Post-Gazette.
Report: U. S. Steel – Nippon Steel Deal Faces Scrutiny
11 January 2024 - Attorneys for United States Steel Corporation and Nippon Steel Corporation have been exchanging phone calls and emails as the Biden Administration prepares to review the planned acquisition of the American steelmaker, The Wall Street Journal reported Thursday.
Nippon Steel Executive Optimistic on Chances of Acquiring U. S. Steel
08 January 2024 - Despite calls for a through review of Nippon Steel Corp.’s acquisiton of United States Steel Corporation, Nippon Steel’s top executive believes the deal will ultimately be finalized, the Reuters news service reports.
POSCO, Nippon Steel Finalize Stakes in Canadian Met Coal Business
04 January 2024 - Nippon Steel Corp. and POSCO have closed on acquisitions of minority stakes in Teck Resources Ltd.'s metallurgical coal operation.
Labor Caucus Seeks Review of U. S. Steel Acquisition
03 January 2024 - The U.S. Congressional Labor Caucus is asking the Biden administration to undertake a comprehensive regulatory review of Nippon Steel Corp.’s planned acquisition of United States Steel Corporation.
Nippon Steel to Acquire U. S. Steel
18 December 2023 - United States Steel Corporation has agreed to be acquired by Japan’s Nippon Steel Corporation through a cash deal valued at US$14.9 billion, the companies announced Monday morning.
EAF Service Provider Superior Machine Under New Ownership
04 December 2023 - Woodings Industrial Corp. has acquired U.S.-based electric arc furnace specialist Superior Machine Co. of South Carolina Inc. for an undisclosed amount.
POSCO, Nippon Steel Acquire Stake in Canadian Met Coal Miner
14 November 2023 - Canadian miner Teck Resources Ltd. has agreed to sell its metallurgical coal business to a group led by Glencore plc through a deal valuing the business at around US$9 billion.
