United States Steel Corp (NYSE: X) shares are soaring higher by around 28% following the news of its acquisition by Nippon Steel Corp for $14.1 billion-plus debt, with a total enterprise value of $14.9 billion.The acquisition price of $55.00 per share represents a 40% premium to X’s closing stock price on December 15, 2023. Recently, there were several reports that the company reportedly received multiple bids in excess of $40 a share. The transaction has been unanimously approved by the Board of Directors of both Nippon and U. S. Steel. The buyout will boost Nippon’s manufacturing and technology capabilities and diversify the global footprint by significantly expanding its current production in the U.S., adding to its primary geographies of Japan, ASEAN, and India. . . #ussteel