U.S Steel’s $429M Shares Public Offering


Milbank LLP advised United States Steel Corporation on the deal.

United States Steel Corporation closed its underwritten public offering of 50,000,000 shares of common stock, for gross proceeds of approximately $429 million.

U.S. Steel intends to use the net proceeds from the offerings to strengthen its balance sheet, increase liquidity and for general corporate purposes.

U.S. Steel, headquartered in Pittsburgh, Pennsylvania, is a leading integrated steel producer and Fortune 250 company with major operations in the United States and Central Europe.

The Milbank team was led by James Ball (Picture), along with Teresa Chen and Sam Badawi and associates Theo Hart, Pablo Richards, Delia Solomon, Lauren Salter, Andi Hasaj, Gahee Lee and Nicole Rose, and included Andrew Walker and associate David Hanno.

Involved fees earner: Husam Badawi – Milbank; James Ball – Milbank; Teresa Chen – Milbank; Theo Hart – Milbank; Andi Hasaj – Milbank; Gahee Lee – Milbank; Pablo Richards – Milbank; Nicole Rose – Milbank; Lauren Salter – Milbank; Delia Solomon – Milbank;

Law Firms: Milbank;

Clients: United States Steel Corp;

Author: Ambrogio Visconti