U.S. Steel Acquires the Rest of Big River

U.S. Steel has acquired the remaining 50.1 percent stake in the Big River Steel mill in Osceola, Ark., paying $774 million in cash, giving it full ownership of one of the most advanced flat-rolled minimills in the United States. U.S. Steel paid $700 million for a 49.9 percent share in BRS in 2019, making its total investment in the EAF steelmaking facility nearly $1.5 billion.

“For months, I’ve said that we can’t get to the future fast enough. Today, I can say the future is now. We are acquiring Big River Steel, the cornerstone of our ‘Best of Both’ strategy,” said David Burritt, president and chief executive officer of U.S. Steel. The transaction is expected to be finalized in first-quarter 2021.