Japan's Nippon Steel, the world's 4th-largest steel producer, to acquire U.S. Steel
Japan's Nippon Steel, the world's 4th-largest steel producer, is buying U.S. Steel, which has a steel plant in Košice, for $14.9bn. That's about double the price offered by Cleveland-Cliffs in the summer. The new owner says it is too early to discuss whether it will go ahead with plans to invest €1.3bn in Košice to change the fuel in two of its three blast furnaces from coal to electricity. The government has already promised a €0.6bn subsidy for the investment.
