Shares rise as Calvert steel plant co-owner Nippon agrees to buy U.S. Steel

Shares rise as Calvert steel plant co-owner Nippon agrees to buy U.S. Steel

Mobile County’s major steel processor saw its shares rise Monday by more than 5 percent as joint owner Nippon Steel agreed to acquire venerable domestic steelmaker U.S. Steel.

With its buyout news, U.S. Steel was the big winner Monday among stocks of interest in Mobile and across Alabama.

Shares of the Pittsburgh-based steel maker that played a key role in the nation’s industrialization rose by 26 percent.