英文特朗普批准美国钢铁交易后的资金流向与反馈

Specialist SalesAPAC Specialist Sales26 May 2025JPMORGANNIPPON STEEL | Flows & Feedback post Trump approving US Steel Deal Anmol Mehta+852 2800 8896anmol.mehta@jpmorgan.comOn Friday afternoon President Trump announced on Truth Social that he would allow US Steel to form a partnership w/Nippon Steel, effectively approving the acquisition. Neither company has officially announced anything, and we have not confirmed the reports either. It is unclear whether the deal involves a full acquisition or another form of investment. US Steel's stock rose 21.2% on friday to $52.00, close to Nippon Steel's takeover offer of $55.00, suggesting a full acquisition has been largely priced in. The reports also imply an additional $14 billion investment post-acquisition, raising concerns about the risk of a capital increase in the longer term. If the acquisition goes through, Nippon Steel plans to take a business restructuring loss with the sale of AM/NS Calvert's stake, but the planned DPS of ¥120 for F