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Teneo is handling Nippon Steel Corp. as it acquires United States Steel Corp. for $14.9B as part of its strategy to add steel-making capacity in “districts and areas where demand is promisingly expected to grow.”
The transaction follows NSC’s acquisitions in India and Thailand as it seeks to achieve its goal of producing 100M tons of steel per year. With USS, NSC’s capacity hits the 86M mark.
NSC president Eiji Hashimoto said his company “has long admired USS with deep respect for its advanced technologies, rich history and talented workforce." His company is committed to honoring all agreements with USS’ existing union contracts.
NSC’s $55 per share offer represents a 40 percent premium over USS’ Dec. 15 closing stock price. The transaction is expected to close in the second or third quarter of 2024.
Robert Mead, Teneo Americas chairman, heads the NSC team that includes senior managing directors Monika Driscoll and Tucker Elcock.
Joele Frank, Wilkinson Brimmer Katcher’s Kelly Sullivan and Ed Trissel represent USS.
Prosek Partners handles New York’s Tilray Brands, craft beer & cannabis operation, as it acquires BrewDog, a leading British independent beer producer in the UK, for $45M.
Brunswick Group handles Zurich Insurance as it agrees to buy UK-based Beazley specialty insurer in a deal valued at $11B.
FGS Global represents Brink’s as it agrees to acquire NCR Atleos, which relies on Collected Strategies, in a $6.6B cash & stock deal to create a leading fintech infrastructure company. (Updated)
A January article in O’Dwyer’s proposes that in 2026, the strongest financial brands will not simply tell compelling stories—they will “signal readiness.”
C Street Advisory Group is working the Chapter 11 filing of Axip Energy Services as it unloads its nearly all of its assets to deal with a heavy debt load.
