Shares of U.S. Steel jumped 21% Friday and rose another 2% Tuesday, nearing Nippon Steel’s $55 per share acquisition price, after President Donald Trump endorsed the long-contested merger, according to Barron's. The stock is now trading at $53.02, up from just under $40 in April 2024, following over a year of political scrutiny, competing bids, and regulatory hurdles. The announcement marked a major step forward for the deal, integrating the legacy American firm into one of the world’s largest steelmakers. Nippon plans to invest $14 billion in U.S. Steel's U.S. operations to expand capacity and create jobs.
Category
🗞
NewsTranscript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Shares of U.S. Steel jumped 21% Friday and rose another 2% Tuesday,
00:07nearing Nippon Steel's $55 per share acquisition price
00:10after President Donald Trump endorsed a long-contested merger, according to Barron's.
00:15The stock is now trading at $53.02, up from just under $40 in April 2024,
00:20following over a year of political scrutiny, competing bids, and regulatory hurdles.
00:25The announcement marked a major step forward for the deal,
00:27which would integrate the legacy American firm into one of the world's largest steelmakers.
00:32Nippon plans to invest $14 billion in U.S. Steel's U.S. operations to expand capacity and create jobs.
00:38For all things money, visit Benzinga.com slash GSTV.