U.S. Steel is contemplating the purchase of AK Steel, which would advance the steel titan's standing in the
automotive industry.
AK Steel officials have been given a preliminary price based on U.S. Steel using stock to complete the acquisition. Board members have also already discussed the five months necessary to obtain clearances, and the conditional approval of both companies' shareholders.
They estimate that the deal would be completed by Oct. 30, should everything go according to plan.
These two companies combined would result in the world's sixth largest steel producer.