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Nippon Steel's acquisition case has caused new waves: two American companies plan to join forces to bid for American Steel.
① Cleveland-Cliffs plans to bid again for United States Steel, offering over $30 per share in cash; ② Cleveland-Cliffs Chairman Gonçalves calls the acquisition plan a "fully American solution"; ③ However, United States Steel has taken Cleveland-Cliffs to court, accusing it of deliberately disrupting the trade between U.S. Steel and Nippon Steel.
Two American companies plan to jointly acquire United States Steel, while Nippon Steel opposes this and states that it will complete its acquisition plan.
On January 14, according to local time, Japan's Nippon Steel Corporation expressed opposition to the consideration of a joint acquisition of United States Steel by the large American steel company Cleveland-Cliffs and another American steel company, Nucor, and reiterated plans to complete the acquisition of United States Steel. According to reports from U.S. media, informed sources indicated that the proposed plan for these two American companies includes Cleveland-Cliffs acquiring most of the Assets of United States Steel, while Nucor would acquire its small rolling mills and other Assets. However, both parties have not made a final decision yet.
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Express News | Nippon Steel: Cleveland-Cliffs CEO Gonclaves "Continues to Persist With Biased Stereotypes"
Express News | Nippon Steel: Our Plan Enjoys Overwhelming Support Among Those With the Most at Stake