Nippon Steel hires Mike Pompeo to advise on US Steel deal
Nippon Steel also faces objections from the powerful United Steelworkers (USW) union, which fears the deal could lead to job losses.
North America’s metals & mining industry saw a rise of 10.50% in cross border deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.
A total of 50 cross border deals worth $1.34 billion were announced for the region during Q1 2021, against the last four-quarter average of 45.25 deals.
Of all the deal types, merger and acquisition (M&A) saw the most activity in Q1 2021 with 43 deals, representing an 86% share for the region.
In second place was private equity with seven deals capturing a 14% share of the overall cross border deal activity for the quarter.
In terms of value of cross border deals, M&A was also the leading category in North America’s metals & mining industry with $1.28 billion, followed by private equity deals, which totalled $63.8 million.
The top five metals & mining cross border deals accounted for a 75.4% share of the overall value during Q1 2021.
The combined value of the top five cross border deals stood at $1.01 billion, against the overall value of $1.34 billion recorded for the quarter.
The top five metals & mining industry cross border deals of Q1 2021 tracked by GlobalData were:
