The United States Securities and Exchange Commission (SEC) has issued comments on the Preliminary Proxy Statement filed by United States Steel Corporation (U.S. Steel) on January 24, 2024. In a letter dated February 16, 2024, addressed to Duane Holloway, General Counsel of U.S. Steel, the SEC requested detailed revisions and additional information regarding the background of the proposed merger with NSC and other parties, including Company A, Consortium B, Company C, and Company D. The SEC's comments specifically asked for more detailed disclosure on the meetings and discussions held with these parties, the potential transaction synergies, particularly a $6.50 per share synergy value estimate from Company D, and the USS board's rationale for considering NSC's offer superior. The SEC also sought clarity on the board's deliberations concerning the divestiture of assets, antitrust matters, and the December 2023 Projections, including the underlying assumptions and limitations. U.S. Steel has been given ten business days to respond to the SEC's comments or to provide a timeline for their response.

The United States Securities and Exchange Commission (SEC) has issued comments on the Preliminary Proxy Statement filed by United States Steel Corporation (U.S. Steel) on January 24, 2024. In a letter dated February 16, 2024, addressed to Duane Holloway, General Counsel of U.S. Steel, the SEC requested detailed revisions and additional information regarding the background of the proposed merger with NSC and other parties, including Company A, Consortium B, Company C, and Company D. The SEC's comments specifically asked for more detailed disclosure on the meetings and discussions held with these parties, the potential transaction synergies, particularly a $6.50 per share synergy value estimate from Company D, and the USS board's rationale for considering NSC's offer superior. The SEC also sought clarity on the board's deliberations concerning the divestiture of assets, antitrust matters, and the December 2023 Projections, including the underlying assumptions and limitations. U.S. Steel has been given ten business days to respond to the SEC's comments or to provide a timeline for their response.