Nippon Steel Closes Its $14.1 Billion Acquisition of US Steel

Nippon Steel Corp. closed its $14.1 billion takeover of United States Steel Corp., bringing to an end an 18-month effort to combine the American and Japanese steelmakers, the companies said in a Wednesday statement. The $55-a-share cash deal creates the world’s second largest steelmaker and turns the combined entity into a formidable competitor within the American steel industry. Nippon Steel also gets an important foothold in the US that helps avoid US President Donald Trump’s 50% steel tariffs. The New York Stock Exchange halted trading of US Steel shares earlier...