ArcelorMittal announces the completion of its third share buyback program
Rhea-AI Summary
ArcelorMittal has successfully completed its third share buyback program, as announced on July 7, 2021. The program, initiated on June 18, 2021, involved the repurchase of 24,458,524 shares at a total cost of approximately €630.36 million (or US$750 million), with an average price per share of €25.77. This strategic move aims to enhance shareholder value and reflects the company's confidence in its financial position. For more details, visit the company's website.
Positive
- Completion of share buyback program enhances shareholder value.
- Repurchased 24,458,524 shares, indicating confidence in financial strength.
- Total value of buyback approximately €630.36 million, strengthening market position.
Negative
- None.
News Market Reaction – MT
In the trading session that priced this news, MT gained 0.83%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
07 July 2021, 15:30 CET
ArcelorMittal (or the ‘Company’) today announces that it has completed the third share buyback program announced on 18 June 2021 under the authorization given by the annual general meeting of shareholders of 13 June 2020 and 8 June 2021.
By market close on 5 July 2021, ArcelorMittal had repurchased 24,458,524 shares for a total value of approximately