Nippon Steel launches $456m bid to acquire Sanyo Special Steel

Nippon Steel will launch a $456 million tender offer to make Sanyo Special Steel a wholly owned unit, Japan’s biggest steelmaker said on Friday.
Nippon Steel will offer 2,750 yen ($17.78) a share, or a 37% premium over Sanyo Special Steel’s closing price on Friday, spending a total 70.45 billion yen ($455.66 million), it said in a statement.
($1 = 154.7100 yen)
(By Kantaro Komiya; Editing by Chang-Ran Kim)
Read More: Activist Ancora to push US Steel to drop Nippon merger and oust CEO
More News
Panama’s $10 billion copper mine faces tough road to restart
Jose Raul Mulino has said he won’t negotiate with First Quantum until it drops arbitration proceedings against Panama.
March 01, 2025 | 11:42 am
Trump, Zelenskiy nix minerals deal
Mineral rights and security agreement cancelled at the White House on Friday after a news conference degenerated into a rare spectacle of raised voices and name-calling.
February 28, 2025 | 11:57 am
{{ commodity.name }}
{{ post.title }}
{{ post.excerpt }}
{{ post.date }}
Comments