20 Takeover Rumors Hedge Funds Are Buying

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4. United States Steel Corporation (NYSE:X)

No. of Hedge Funds: 63

Pennsylvania-based company United States Steel Corporation (NYSE:X) is a leading integrated steel producer in North America and Central Europe. The company manufactures flat-rolled and tubular steel products and offers them to the end markets, including automotive, construction, energy, and appliance manufacturing. With the importance of advanced manufacturing, cost-efficiency, and sustainable production, the company gains a competitive edge against peers like Nucor and ArcelorMittal. Their mini-mill transition strategy and investment in green steel initiatives especially help meet evolving industrial and environmental demands.

By the end of 2023, United States Steel Corporation (NYSE:X) entered an acquisition agreement with Nippon Steel Corporation as the potential buyer. The agreement was valued at $14.9 billion. However, in 2024, the Committee on Foreign Investment in the United States (CFIUS) raised concerns about this takeover, citing national security. Subsequently, the Biden administration blocked the merger during the year. United States Steel Corporation (NYSE:X) and Nippon Steel Corporation filed a lawsuit claiming the decision was unconstitutional. Executive orders have been delayed till June 2025. However, with Trump replacing the Biden administration, the takeover rumor surrounding the company has been reignited.

We noted that 63 hedge funds currently have stakes in the company’s ownership, according to Insider Monkey’s Q4 2024 database. The renewed rumor of the United States Steel Corporation (NYSE:X) ‘s takeover could have been the catalyst behind this strong institutional interest.

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