M&A Deal Summary

U. S. Steel Acquires Lone Star Technologies

On March 29, 2007, U. S. Steel acquired manufacturer Lone Star Technologies for 2.1B USD

Acquisition Highlights
  • This is U. S. Steel’s 1st transaction in the Manufacturing sector.
  • This is U. S. Steel’s largest (disclosed) transaction.
  • This is U. S. Steel’s 3rd transaction in the United States.
  • This is U. S. Steel’s 2nd transaction in Texas.

M&A Deal Summary
Date 2007-03-29
Target Lone Star Technologies
Sector Manufacturing
Buyer(s) U. S. Steel
Deal Type Add-on Acquisition
Deal Value 2.1B USD
Advisor(s) Goldman Sachs (Financial)
Weil Gotshal & Manges LLP (Legal)

Target

Lone Star Technologies

Dallas, Texas, United States
Lone Star Technologies, Inc. manufactures and markets oilfield casing, tubing and line pipe, specialty tubing products, including finned tubes used in a variety of heat recovery applications, and flat rolled steel and other tubular products and services.

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Buyer(S) 1

Buyer

U. S. Steel

Pittsburgh, Pennsylvania, United States

website

Category Company
Founded 1901
Sector Metals/Mining
Employees23,350
Revenue 21.1B USD (2022)
DESCRIPTION

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.

DEAL STATS #
Overall 3 of 6
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 2 of 5
State (Texas) 2 of 2
Country (United States) 3 of 5
Year (2007) 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-09 National Steel

Mishawaka, Indiana, United States

National Steel Corporation was an integrated steel producer based in Mishawaka, Indiana. National Steel operated plants in Canton, Ecorse and River Rouge, Michigan; Granite City, Illinois; and Portage, Indiana.

Buy $950M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-27 Stelco

Hamilton, Ontario, Canada

Stelco is a steel company fully integrated, industry major facilities are among the safest, environmentally progressive, and productive steel plants in the world. Powered by Canadian craftsmanship, Stelco's operations in Hamilton and Nanticoke reflect the strength of each community. Together with employing more than 2,200 people, these fully integrated, industry-leading facilities are among the safest, environmentally progressive, and productive steel plants in the world. Hamilton Works is located on the shore of Lake Ontario in Hamilton, Ontario. Lake Erie Works is located in Nanticoke, Ontario, on the shores of Lake Erie. Stelco produces high-quality steel that is used primarily in the North American automotive, construction, infrastructure, appliance, manufacturing and pipe, and tube industries. Stelco was founded in 1910 and is based in Hamilton, Ontario.

Buy CA$1.0B
Mergr

Product

Company

Legal