Nippon Steel Corporation (TSE: 5401) and United States Steel Corporation (NYSE: X) announced that they have entered into a definitive agreement for Nippon Steel to acquire United States Steel Corporation (“U. S. Steel”) in an all-cash transaction at $55 per share, representing an equity value of approximately $14.1 billion. This transaction is the successful outcome of a comprehensive and robust strategic review conducted by U. S. Steel and its Board of Directors.
Milbank LLP is serving as legal counsel to U. S. Steel, with a deal team lead by Corporate M&A partners Bob Kennedy and Iliana Ongun with associate Douglas Howell; Antitrust partners Fiona Schaeffer and Richard Parker with special counsel Andrew Wellin; Executive Compensation partners Mike Shah and James Beebe; Tax partner Max Goodman; and Leveraged Finance partner Christopher Kwan.
