GRANITE CITY, Ill. – Japanese steelmaker ‘Nippon Steel Corporation’ announced Monday morning that it is buying U.S. steel.
The two companies reached an agreement this morning for NSC to acquire U.S. Steel for $55 per share in an all-cash transaction. It’s unclear how this will directly impact the U.S. steel plant in Granite City.
NSC says it will honor all collective bargaining agreements with the United Steelworkers Union. U.S. Steel will keep its name and headquarters in Pittsburgh.
