M&A Deal Summary

Nippon Steel Acquires U. S. Steel

On December 18, 2023, Nippon Steel acquired metals/mining company U. S. Steel for 14.9B USD

Acquisition Highlights
  • This is Nippon Steel’s 4th transaction in the Metals/Mining sector.
  • This is Nippon Steel’s largest (disclosed) transaction.
  • This is Nippon Steel’s 2nd transaction in the United States.
  • This is Nippon Steel’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2023-12-18
Target U. S. Steel
Sector Metals/Mining
Buyer(s) Nippon Steel
Deal Type Add-on Acquisition
Deal Value 14.9B USD
Advisor(s) Citigroup Investment Banking
Barclays Investment Bank
Goldman Sachs
Evercore Group (Financial)
Milbank
Wachtell, Lipton, Rosen & Katz (Legal)

Target

U. S. Steel

Pittsburgh, Pennsylvania, United States
U. S. Steel is an integrated steel producer with major production operations in the United States, Canada and Central Europe and an annual raw steelmaking capability of 27 million net tons. The company manufactures a wide range of value-added steel sheet and tubular products for the automotive, appliance, container, industrial machinery, construction, and oil and gas industries. U. S. Steel was founded in 1901 and is based in Pittsburgh, Pennsylvania.

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Buyer(S) 1

Buyer

Nippon Steel

Tokyo, Japan
Category Company
Founded 1950
Sector Metals/Mining
Employees113,639
Revenue 8.87T JPY (2024)
DESCRIPTION
Nippon Steel's corporate headquarters in Tokyo, Japan.
Nippon Steel's corporate headquarters in Tokyo, Japan.

Nippon Steel is a steel manufacturing company. The Company's operations encompass a wide range of activities, including steelmaking, rolling, and processing, catering to diverse industries such as automotive, construction, machinery, and shipbuilding. Nippon Steel was founded in 1950 and is based in Tokyo, Japan.

DEAL STATS #
Overall 5 of 5
Sector (Metals/Mining) 4 of 4
Type (Add-on Acquisition) 4 of 4
State (Pennsylvania) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-21 Nippon Steel Trading

Tokyo, Japan

Nippon Steel Trading engages in marketing and import/export of steel, industrial supply and infrastructure. The company operates in five segments: steelmaking and steel fabrication, engineering and construction, chemicals, new materials, and system solutions. Nippon Steel Trading was founded in 1977 and is based in Tokyo, Japan.

Buy ¥137.0B
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