U.S. Steel, which is still a large employer of Hoosiers in northern Indiana, has agreed to sell itself to a Japanese steel making company in a huge deal.

Nippon Steel is buying US Steel for a whopping 14.1 billion dollars. US Steel has been around for 122 years ever since it was bought from Andrew Carnegie by J.P. Morgan and Charles Schwab in 1901.

The company has faced decades of decline in both steel output and stock market value.

Though the company is based in Pittsburgh, it’s largest steel manufacturing plant is in Gary. It also has facilities in East Chicago and Portage.