Final Thoughts
October 16, 2020
Final Thoughts
Written by Tim Triplett
Have you ever attended a wedding and thought to yourself as you looked at the lovely young bride and her much older groom: “How is this going to work?” The marriage of U.S. Steel and Big River Steel is raising some of the same doubts.
U.S. Steel announced today that is has exercised its option to acquire the remaining 50.1 percent stake in BRS for $774 million in cash. The move comes just a year after USS originally bought a 49.9 percent interest in BRS with a four-year option to buy the rest, thanks to a steel market that is booming, despite the pandemic, with hot rolled prices near $900 a ton.
