President Trump has approved the sale of U.S. Steel to Nippon Steel, according to an executive order signed on Friday, June 13. Both the Pittsburgh-based steelmaker and the Japanese steelmaker cheered the development.
The Ohio-based steel processor is now the majority owner of Italy's Sitem Group, which has six manufacturing sites across Italy, Switzerland, Slovakia, and France.
SunCoke Energy has purchased Phoenix Global, a metals and mining services company, for $325 million.
President Donald Trump on Friday gave his blessing to a $14-billion "partnership" between Nippon Steel and U.S. Steel.
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.
South Korea’s POSCO is eyeing linking up with Hyundai Steel in the project to build a steel plant in Louisiana, according to media reports.
Investment firm Ancora Holdings Group has halted its play for U.S. Steel's board, citing Nippon Steel’s proposed bid for USS “gaining momentum.”
Ancora’s intention to replace U.S. Steel's leadership was first announced in late January.
The companies said Thursday that Radius shareholders will receive $30 per share in cash upon the deal’s closing, which is expected in the second half of this year.
Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba. U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good."
Nucor Corp.’s chief executive didn’t shy away from discussing the company’s interest in potentially acquiring the electric-arc furnace assets of U.S. Steel on Tuesday. An analyst on an earnings conference call asked about Nucor’s appetite for M&A given its strong cash position – $4.1 billion at the end of 2024. Chair, President, and CEO Leon […]
Alan Kestenbaum, the founder of Bedrock Industries and the former CEO of Stelco, will be the featured speaker on the next SMU Community Chat. The webinar will be on Wednesday, Jan. 22, at 11 am ET. It’s free to attend. You can register here. We’ll look at Stelco’s recent sale to Cleveland-Cliffs and what made […]
Steel fabricators and distributors SPS Companies and State Steel will be merging their service center businesses under the SPS Companies family of firms.
Alkar Steel and Processing supplies hot- and cold-rolled steel, high carbon spring steel, high strength-low alloy steel, coated and stainless steel products throughout the Midwest.
Russel Metals Inc. has closed on its buy of Tampa Bay Steel.
Worthington Steel has reached an agreement to acquire a controlling equity stake in Italian-based electric motor lamination producer Sitem SpA.
Tampa Bay Steel, a Florida-based steel distributer and metal processer, generated average annual revenues of about US$115 million
Cleveland-based Olympic Steel announced its first acquisition of 2024, Georgia-based components manufacturer Metal Works.
Canada’s Stelco Holdings Inc. is now officially owned by Cleveland-Cliffs Inc.
Cleveland-Cliffs has received all the required approvals to finalize its $2.5-billion acquisition of Canadian steelmaker Stelco Holdings Inc.
AZZ Inc., relatively unfazed by volatility in zinc pricing, is optimistic about demand prospects and M&A opportunities, especially in the galvanizing sector.
Stelco shareholders voted overwhelmingly on Monday to OK the $2.5-billion sale of the Canadian flat-rolled steelmaker to Cleveland-Cliffs. Indeed, 99.97% of those who cast ballots voted to approve the deal, according the Hamilton, Ontario-based steelmaker.
Coal companies Arch Resources and CONSOL Energy announced their merger to create Core Natural Resources, a combined company with a market cap of ~$5.2 billion.
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.
Cleveland-Cliffs’ earnings tumbled in the second quarter as the company cited weak demand and pricing.
Cleveland-Cliffs has been pursuing M&A opportunities for some time now and thinks it has found a solid partner with aligned interests in Stelco. The companies announced on Monday that Cliffs would acquire the integrated Canadian steelmaker. That same day, Cliffs held a conference call with analysts to discuss the acquisition. Lourenco Goncalves, Cliffs’ chairman, president, […]
Cleveland-Cliffs Inc. has agreed to purchase Canada’s Stelco Holdings Inc. in a deal valued at $2.5 billion (CA$3.4 billion).
Two veteran investment bankers joined SMU's Community Chat on Wednesday, July 10, to talk consolidation and M&A in the metals industry.
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]
Flat-rolled steel prices have been largely falling since the beginning of the year. Even after a slight bump in early April when mills tried to halt the downtrend, the decrease resumed.