U.S. Steel and Texas Oil are holding merger talks.
United States Steel Corp., the nation’s largest steelmaker, said it is discussing a possible business combination with Texas Oil & Gas Corp., one of the nation’s largest independent natural gas producers. An acquisition at $25 a share for Texas Oil & Gas’ 210 million common shares outstanding would make the deal worth $5.2 billion. U.S. Steel spokesman William H. Hoffman Jr. said no agreement has been reached, but he declined further comment. A similar announcement was released in Dallas by Texas Oil & Gas.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
