Simpson Thacher Represents Morgan Stanley in $429 Million Common Stock Offering for U.S. Steel
06.22.20
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Simpson Thacher represented Morgan Stanley & Co. LLC (“Morgan Stanley”) in connection with United States Steel Corporation’s (“U.S. Steel”) $429 million common stock offering. U.S. Steel intends to use the net proceeds of the offering to strengthen its balance sheet, increase liquidity and for general corporate purposes. The offering closed on June 22, 2020.
U.S. Steel is an integrated steel producer of flat-rolled and tubular products with major production operations in the United States and Europe. According to the World Steel Association’s latest published statistics, in 2018 U.S. Steel was the third largest steel producer in the United States and the 26th largest steel producer in the world.
The Simpson Thacher team included Art Robinson, Roxane Reardon, Stephanie Rowan and Adriana Estor Restrepo (Capital Markets); Mike Isby and Timothy Mulvihill (Environmental); Jeanne Annarumma and Monisha Bhayana (Executive Compensation and Employee Benefits); Lori Lesser and Corina McIntyre (Intellectual Property); Elisa Alcabes and Shanice Hinckson (Asbestos); Jonathan Cantor and Gal Shemer (Tax); and Andrew Pagliughi (Blue Sky).