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19 Dec 2023

Nippon Steel Acquires U.S. Steel for $14.1 Billion, Creates the World's Second Largest Steel Maker

Japan's Nippon Steel [succeeds in purchasing]( legacy American company U.S. Steel at $55 per share, thwarting previous attempts by Cleveland-Cliffs and Esmark. The acquisition makes Nippon the world's second-largest steelmaker after China Baowu Group. The United Steelworkers Union criticized the sale to a foreign firm, citing lack of communication prior to the deal.