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    Analysis

    Ethan Bernard, SMU Team

    January 7, 2025

    Final Thoughts

    Written by Ethan Bernard

    Some world-changing events happen in an instant. Others take many twists and turns. The outcome remains unknowable at every phase. That is, until you finally arrive at the end of the roller coaster, the safety bar lifts up, and you stagger off the ride. It appears such is the case with Nippon’s Steel Corp.’s (NSC’s) proposed $14.9-billion buy of Pittsburgh-based U.S. Steel. And the ride ain’t over yet.

    Before that deal was even announced, we had the original drama of learning that USS was up for sale in the summer of 2023, that Cleveland-Cliffs made a bid and was rejected. Add to that vociferous opposition from the United Steel Workers (USW) union from the start. Even Esmark made an appearance in the action at one point. Now the next phase of the Japanese steelmaker’s USS transaction has announced itself: litigation.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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