Ropes & Gray Represents Nippon Steel Corporation in its $14B Acquisition of U. S. Steel

Ropes & Gray advised Nippon Steel Corporation (NSC), Japan’s largest steelmaker, in a definitive agreement to acquire U. S. Steel in an all-cash transaction at $55.00 per share, representing an equity value of approximately $14.1 billion plus the assumption of debt, for a total enterprise value of $14.9 billion. The transaction was announced in a press release on December 18.

NSC, headquartered in Japan, has a global presence in 15 additional countries and employs over 100,000 people. United States Steel Corporation is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe.

The Ropes & Gray team was led by mergers & acquisitions partners Ariel Deckelbaum and Suni Sreepada, finance partners Byung Choi and Jay Kim, executive compensation & employee benefits partners Renata Ferrariand Sharon Remmer, employment partner Richard Kidd, tax partner David Saltzman, environmental partner Peter Alpert, IP transactions partner Jordan Altman, capital markets partner Faiza Rahman, regulatory partners Lisa Kaltenbrunner, Samer Musallam, Ruchit Patel, and Ama Adams, and litigation partners Andrew O’Connorand Dan Ward.