Steel

Ropes & Gray, Milbank, Wachtell act on Nippon Steel’s $15 bln purchase of U.S. Steel

Japan

U.S. law firm Ropes & Gray has advised Japan’s largest steelmaker Nippon Steel Corporation on its $14.9 billion acquisition of U.S. Steel, which was represented by Milbank and Wachtell, Lipton, Rosen & Katz.

The acquisition will help Nippon Steel, the world’s fourth largest steelmaker, move toward 100 million metric tons of global crude steel capacity, while significantly expanding its production in the U.S. where steel prices are expected to rise as automakers ramp up production following their recent deals with labor unions to end strikes, Reuters reported. The transaction is expected to close in the second or third quarter of 2024, subject to regulatory approvals, it added.

The Ropes & Gray team was led by partners Ariel Deckelbaum, Suni Sreepada, Byung Choi, Jay Kim, Renata Ferrari, Sharon Remmer, Richard Kidd, David Saltzman, Peter Alpert, Jordan Altman, Faiza Rahman, Lisa Kaltenbrunner, Samer Musallam, Ruchit Patel, Ama Adams, Andrew O’Connor and Dan Ward.

The Milbank team was headed by partners Bob Kennedy, Iliana Ongun, Fiona Schaeffer, Richard Parker Mike Shah, James Beebe, Max Goodman and Christopher Kwan, while WLRK team was led by partners Joshua Cammaker and Jenna Levine.

 


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