Question

On what amount did Carnegie and Morgan agree?

a) $1 million
b) $10 million
c) $100 million
d) $1 billion

Answer 1

Carnegie and Morgan agreed on a price of $500 million initially, but the resulting U.S. Steel Corporation was valued at $1.4 billion.

Step-by-step explanation:

Andrew Carnegie and J.P. Morgan agreed on a price of $500 million. However, after the consolidation of Carnegie's holdings with other smaller steel firms, the resulting company, U.S. Steel Corporation, was subsequently capitalized at $1.4 billion. This made it the first billion-dollar firm in the United States.