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FT News Briefing

US Steel gets a new owner

Dec 19, 2023
09:37
Snipd AI
Activist investor Cevian Capital invests €1.2bn in UBS, Nippon Steel buys US Steel in a $14.9bn deal, the demolition of cooling towers at a coal plant near Liverpool and the cultural significance and controversy surrounding it.
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Quick takeaways

  • Activist investor Cevian Capital purchases a 1.2 billion Euro stake in UBS, aiming to double its valuation within 3-5 years.
  • Nippon Steel's acquisition of US Steel for $15 billion showcases Japan's commitment to global M&A and addressing output challenges.

Deep dives

Sevean Capital takes 1.2 billion Euro stake in UBS

The activist investor Sevean Capital has purchased a 1.2 billion Euro stake in UBS and believes that the Swiss bank can double its valuation over the next 3-5 years. Sevean Capital, which has been tracking UBS for 15 years, now ranks as one of the top 10 investors in the bank.

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