Merger Transactions
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| Company | Buyer Country | Party 1 | Party 2 | Date | Revenue (US$m) | Employees |
|---|---|---|---|---|---|---|
| Ansteel | Anshan, China | Ansteel | Ben Gang | Aug 21 | 46000 | 200000 |
| Arcelor | Luxembourg | Usinor | Arbed | Apr 01 | 30540 | 94600 |
| ArcelorMittal | Luxembourg | Mittal Steel | Arcelor | Jun 06 | 71900 | 423935 |
| Bohler-Uddeholm | Vienna, Austria | Bohler | Uddeholm | Jun 91 | 6300 | 15453 |
| China Baowu I&S | Shanghai, China | Baosteel | Wuhan I&S | Sep 16 | 42751 | 190700 |
| Cleveland-Cliffs | Cleveland, USA | Cleveland-Cliffs | AK Steel | Mar 20 | 8200 | 26000 |
| Corus | London, UK | British Steel | Hoogovens | Jun 99 | 15100 | 70000 |
| Gerdau AmeriSteel | Florida, USA | Gerdau Steel | Co-Steel | Oct 04 | 1750 | 4800 |
| Hadeed | Saudi Arabia | Hadeed | Al Rajhi Steel | Apr 24 | – | – |
| Hebei I&S | Shijiazhuang, China | Tangshan I&S | Handan I&S | Jun 08 | 24040 | 130000 |
| Iscor Ltd | South Africa | Iscor Ltd | Saldanha Steel (Pty) Ltd | Feb 02 | 1370 | 13300 |
| JFE Steel | Tokyo, Japan | Kawasaki Steel | Nihon Kokan | Dec 01 | – | – |
| Krupp-Hoesch | Düsseldorf, Germany | Krupp AG | Hoesch AG | Jul 92 | 18900 | – |
| Marubeni-Itochu | Tokyo, Japan | Marubeni Corp | Itochu Corp | Oct 21 | 26300 | 9960 |
| Mittal Steel | Luxembourg | ISG | Ispat International | Apr 05 | 30000 | 165000 |
| Nippon Steel | Tokyo, Japan | Nippon Steel | U.S. Steel | Jun 25 | 76910 | 128740 |
| NS-Siam United Steel | Bangkok, Thailand | NS-Siam United Steel | Siam Tinplate Co | Apr 22 | – | 1500 |
| NSSMC | Minato, Japan | Nippon Steel | Sumitomo Metal | Dec 11 | 45395 | 105796 |
| Outokumpu | Espoo, Finland | Outokumpu | Inoxum (ThyssenKrupp) | Jan 12 | 15340 | 19000 |
| Polskie Huty Stali | Warsaw, Poland | Huta Katowice SA | Huta Sendzimira | Jun 02 | 1813 | 16000 |
| Pubco | Uncertain | Trasteel | Sizzle Acquisition Corp | Apr 26 | – | – |
| Ryerson Holding | Chicago, USA | Ryerson | Olympic Steel | Feb 26 | 6500 | 6300 |
| SSAB | Stockholm, Sweden | SSAB | Rautaruukki | Jan 14 | 9388 | 17500 |
| Thyssen Krupp | Essen, Germany. | Thyssen Industrie | Krupp AG | Sep 97 | 41140 | 103600 |
Source: MCI research. – = no data. Data as of August 2026.
Notes
- We distinguish between mergers on the one hand, and acquisitions on the other. For steel industry acquisitions, click the button below.
- Arcelor was created from the merger of Arbed (Luxembourg), Aceralia (Spain) and Usinor (France).
- Polskie Huty Stali (PHS) was formed through the consolidation of four Polish steel companies – namely, Huta Katowice S.A., Huta T. Sendzimira S.A., Huta Florian S.A. and Huta Cedler S.A.
- Creation of Gerdau AmeriSteel involved a merger of Gerdau's Brazilian operations with those of Co-Steel's facilities in North America. The latter included Co-Steel Lasco in Whitby, Ontario; Co-Steel Sayreville in New Jersey; Co-Steel Raritan also in New Jersey; and a partial stake in Gallatin Steel in Kentucky, a flat rolled mini mill.
- The name of Japan's JFE Steel derives as follows: the letter J stands for Japan, F is for Fe, the chemical symbol of iron, and E stands for engineering.
- At the time of the deal, NS-Siam United Steel Co Ltd (“NS-SUS”) was a producer of cold-rolled and hot-dip galvanised steel only; Siam Tinplate Co Ltd. (“STP”) was a producer of tinplate and tin free steel.
- Note that Ryerson Holding / Olympic Steel transaction was a merger of two steel distributors rather than a merger of two steelmakers.
- Nippon Steel / US Steel deal was structurally an acquisition (all-cash, USS delisted). Technically however this was a merger executed as a "reverse triangular merger" per US convention under a "merger agreement".
Median Statistics
Based on the data above, the median revenue per employee of the newly-merged steel companies was ~US$300. Contact us for further details and other statistics. Request Bespoke Data →
Spreadsheet Data
Full spreadsheet showing name of merged entity, name and country of party #1, name and country of party #2, merger date; and where known the deal value, the approximate merged company revenue, the NewCo steelmaking capacity, NewCo number of employees, NewCo revenue per employee, NewCo revenue per tonne and miscellaneous notes regarding the merger transaction is available for purchase for US$150.
Please note that the desktop version of this page displays the following fields: merged company name, HQ location, name of party #1 and party #2, merger date, and where known NewCo revenue, NewCo number of employees.