Final Thoughts
September 30, 2019
Final Thoughts – USS & Big River Steel – My Opinion
Written by John Packard
U.S. Steel did what many analysts thought was impossible – they announced they are acquiring a 49.9 percent interest in Big River Steel. I wrote about this last week as a possibility and mentioned some of the reasons at that time why this deal might happen.
According to Big River Steel’s announcement, the $700 million cash price paid by U.S. Steel assumes a $2.325 billion enterprise value for the company. This is a far cry from the $3.0+ billion that was rumored to have been floated by Nucor, SDI and others about a year ago.
