US Steel’s Edgar Thomson Plant in Braddock, Pennsylvania outside of Pittsburgh. The 122-year-old company, once the backbone of a US economy powered by manufacturing, has agreed to be purchased by Nippon Steel, Japan’s largest steelmaker, for $14.1 billion. The deal faces opposition from politicians and the United Steelworkers union though.

NEW YORK, NEW YORK — The days may be numbered for an independent, American-owned, US Steel, a one-time backbone of the nation’s economy.

US Steel was once the most valuable company in the world. Monday, it agreed to be purchased for $14.1 billion, or $55 a share, by Nippon Steel, Japan’s largest steelmaker.

That $14.1 billion sale price, while a 40% premium from where US Steel’s stock closed Friday before the deal was announced, makes it a minor leaguer in today’s economy. The nation’s tech powerhouses – Apple, Google’s parent Alphabet, Amazon, Microsoft and Nvidia – trade at a valuation of more than $1 trillion each. US Steel, even at the sale price, is valued less than 0.5% of the value of Apple, and less than 2% […]

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