U. S. Steel Acquires Stake in Big River Steel

U. S. Steel Acquires Stake in Big River Steel

  

Fried Frank acted as counsel to Barclays Capital Inc. as financial advisor to United States Steel Corporation (U. S. Steel) in its acquisition of a 49.9% interest in Big River Steel (Big River) at an implied enterprise value of US$2.325 billion with an option to acquire the remaining 50.1% within four years at an agreed-upon price formula based on Big River's achievement of certain metrics. The transaction will give U. S. Steel access to advanced lower-cost technology and know-how for producing sheet steel. The closing of the transaction is anticipated on October 31, 2019, subject to satisfaction of customary closing conditions.

The Fried Frank team was led by corporate partner Steven Epstein and included corporate partner Warren S. de Wied and corporate associates Asiya M. Ubaid and Roy Tannenbaum.

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