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Japan's Nippon Steel Plans to Acquire US Steel for $14.9 Billion

$U.S. Steel$ jumped over 25% in morning trading.Japan's largest steelmaker will buy U.S. Steel for $55 a share in cash, representing a 40% premium to the stock's price on Dec. 15, plus the assumption of debt, for an enterprise value of $14.9 billion.Nippon Steel said it will honor all collective bargaining agreements with United Steelworkers Union and that both boards have approved the deal. Niippon Steel said it will be well-positioned to capitalize on the growing demand for high-grade steel, a
Japan's Nippon Steel Plans to Acquire US Steel for $14.9 Billion

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