US Steel to be acquired for more than £11 billion by Nippon Steel

The US Steel building in Pittsburgh (Alamy/PA)

US Steel, the Pittsburgh steel producer that played a key role in the nation’s industrialisation, is being acquired by Nippon Steel in an all-cash deal valued at approximately 14.1 billion dollars (£11.1 billion).

The transaction is worth about 14.9 billion dollars (£11.9 billion) when including the assumption of debt.