U.S. Steel has announced plans to acquire the remaining 50.1% stake in Big River Steel for $774 million. Big River Steel's main asset is a "state of the art" flat rolling mill in Osceola, Arkansas, which recently started up a $1.2 billion project that is designed to expand capacity to 3.3 million tons per year.

The acquisition will provide U.S. Steel with new, cleaner, and efficient minimill assets that will keep it competitive and offset the company's higher-cost and aging assets in the Midwest.