USX Corp, Pittsburgh, announced on July 2 that it has completed a reorganization into a holding company in accordance with Delaware law. USX entered into this reorganization, which under Delaware law did not require stockholder approval, to better structurally align its assets and liabilities with the attribution of these assets and liabilities to the Marathon Group and the US Steel Group. This holding company reorganization has no impact on the rights of holders of USX-Marathon Group common stock, USX-US Steel Group common stock or USX 6.50 percent cumulative convertible preferred stock.
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