US Steel to acquire 49.9% interest in Big River Steel

United States Steel Corporation announced a joint venture partnership to acquire a 49.9% ownership interest in Big River Steel for approximately $700 million in cash. The deal includes a call option for US Steel to acquire the remaining 50.1% within four years.

“United States Steel Corporation (X) (“U. S. Steel”) announced a joint venture partnership agreement under which it has taken the first step towards acquiring Big River Steel (“Big River”) through the purchase of a 49.9% ownership interest at a purchase price of approximately $700 million in cash, with a call option to acquire the remaining 50.1% within the next four years.”

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