Nucor Says It Considered Buying Parts of US Steel

Nucor acknowledges it was interested in acquiring some of United States Steel’s assets, but dropped out of the bidding near the end over concerns about the price. “Nucor took a hard look at some of the assets within the U.S. Steel portfolio,” CEO Leon Topalian says during a conference call. “But at the end of the day, we’re not going to overpay for any assets.” A deal proxy filed by U.S. Steel last week describes an unidentified company that analysts widely believe was Nucor as being interested in U.S. Steel’s Big River mill in Arkansas; its iron ore operation in Minnesota; and a steel rolling mill in California. Nucor up 5.2% at $185.77.

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