United States Steel Corporation (US Steel) has announced the acquisition of the remaining shares of Big River Steel, an electric arc furnace (EAF) plant in America, to fully own the newest and most advanced sheet metal producer in North America. The deal is expected to be completed in the first quarter of 2021.
In October 2019, US Steel acquired a 49.9% stake in Big River Steel for approximately $ 700 million in cash. As part of its Best of Both strategy, US Steel will receive the remaining 50.1% in cash in the amount of USD 774 million.
The deal will increase US Steel's profit margins, provide significant synergies and further contribute to long-term value creation.
In addition, Big River Steel's Generation 3 improved high-strength steels and other automotive steels will enable US Steel to better serve the automotive industry, thereby increasing its competitiveness.
US Steel will fully acquire Big River Steel
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