FMP
U.S. Steel Stock Jumps 23% on Nippon Steels’ Acquisition Annoucement
Dec 19, 2023 4:30 PM - Davit Kirakosyan
Image credit: FMP
The United States Steel Corporation (NYSE:X), widely known as U.S. Steel, is set to be acquired by Nippon Steel, as confirmed by both companies yesterday. Following this announcement, U.S. Steel's shares surged by more than 26% yesterday.
Nippon Steel has agreed to an all-cash acquisition, offering $55 per share, placing U.S. Steel's valuation at approximately $14.1 billion. When considering the debt, the total enterprise value of the deal rises to $14.9 billion.
Eiji Hashimoto, President of Nippon Steel Corporation (NSC), remarked on the acquisition, emphasizing the company's expanding presence in the United States. Hashimoto assured that all existing union contracts with U.S. Steel would be respected and honored. He expressed eagerness to work closely with the U.S. Steel team, aiming to integrate the strengths of both companies.
Other Blogs
Jan 16, 2024 4:18 PM - Samuel Abdelshahid
Best Budget-Friendly Laptops for Financial Modeling and Stock Trading (2024)
Laptops for Financial Modeling and Stock Trading In the hustle and bustle of the trading world, having a trustworthy laptop is like having a reliable partner by your side. Making well-informed decisions and staying ahead of market trends become second nature with the right device. However, th...
Jan 21, 2024 4:00 AM - Parth Sanghvi
Understanding Profitability Metrics: Exploring ROE, ROA, and Net Profit Margin
Introduction: In the world of financial analysis, a profound grasp of essential profitability metrics is vital. This blog delves into three pivotal metrics—ROE (Return on Equity), ROA (Return on Assets), and Net Profit Margin—offering clear insights without unnecessary complexity. Exploring RO...
May 14, 2024 11:41 AM - Sanzhi Kobzhan
The easiest way to calculate stock’s target price and why the target price is important.
A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...
