Arcelormittal Stock Price, News & Analysis

On June 17, 2021, ArcelorMittal launched a tender offer to purchase its 3.600% notes due 2024, 6.125% notes due 2025, and 4.550% notes due 2026. The offer expired on June 24, 2021, with validly tendered amounts reported as $464.8M for the 2024 notes, $73.4M for the 2025 notes, and $354.6M for the 2026 notes. Payment for accepted offers is anticipated on June 29, 2021. The company is engaging several dealer managers and has retained D.F. King as the information agent.

ArcelorMittal announces the completion of its second share buyback program, repurchasing 17,847,057 shares for approximately €468.8 million (US$570 million) at an average price of €26.27. A third buyback program is set to begin today with a value of US$750 million, funded by the sale of Cleveland-Cliffs common stock. This initiative aims to meet debt obligations and decrease share capital, expected to conclude by 31 December 2021.

ArcelorMittal announced a share transaction notification related to its share buyback program. This transaction involves a repurchase agreement with a Significant Shareholder to maintain voting rights at 36.34% of the company's share capital. The details of this transaction can be found in the Luxembourg Stock Exchange database and on ArcelorMittal's website. The share buyback program was initially announced on 4 March 2021, aiming to optimize the company's capital structure.

ArcelorMittal North America Holding has completed the sale of 38.2 million common shares in Cleveland-Cliffs, generating significant cash proceeds. A total of $1.9 billion from various sales will be returned to shareholders through a newly announced $750 million share buyback program. This buyback initiative aims to enhance shareholder value and follows the completion of a prior buyback program. The shares sold were valued at approximately $20 each, and ArcelorMittal continues to hold redeemable non-voting preferred stock in Cleveland-Cliffs.

ArcelorMittal has announced an invitation to bondholders to submit offers to sell up to €1.5 billion in various outstanding bonds. This includes EUR 500 million 0.950% Notes due 17 January 2023, EUR 750 million 1.000% Notes due 19 May 2023, and EUR 1 billion 2.250% Notes due 17 January 2024. The invitation commences on June 17, 2021, and will expire on June 24, 2021. The purchase prices are set to reflect market yields, with settlement expected around June 29, 2021. Major dealer managers include Citigroup and Goldman Sachs, while the funding will come from existing cash resources.

ArcelorMittal has launched a cash tender offer to purchase any and all of its 3.600% notes due 2024, 6.125% notes due 2025, and 4.550% notes due 2026 to reduce gross debt. The tender consideration is set at $1,076.50 for the 2024 Notes, $1,176.00 for the 2025 Notes, and $1,130.00 for the 2026 Notes. Holders may tender notes until June 24, 2021. The company intends to use existing cash resources to fund this initiative. The offers are aimed at early repayment and cancellation of the notes upon acceptance.

On June 15, 2021, ArcelorMittal reported a share transaction by a Designated Person, available on the Luxembourg Stock Exchange. This transaction ties back to its share buyback program initiated on March 4, 2021, ensuring the Significant Shareholder retains a 36.34% stake in the company. In 2020, ArcelorMittal achieved revenues of $53.3 billion and produced 71.5 million metric tonnes of crude steel. The company emphasizes its commitment to sustainable steel production, aiming to support global transformation towards cleaner energy solutions.

ArcelorMittal announced on June 7, 2021 that it received shareholding notifications from Société Générale SA. The notifications indicate that Société Générale reached voting rights thresholds of 5.01% on June 2 and 4.70% on June 3. Since the latter threshold is below 5%, no adjustments to the Company’s shareholding structure disclosure are required. These notifications comply with the Luxembourg Transparency Law and are accessible via the Luxembourg Stock Exchange and the Company's website.

On June 8, 2021, ArcelorMittal held its Annual General Meeting and Extraordinary General Meeting, where over 73.5% of voting rights were represented. The meetings were conducted virtually due to Covid-19. Key resolutions included a dividend distribution of US$ 0.30 per share, re-election of directors, and a share capital reduction through the cancellation of repurchased shares. The full voting results will be available on their corporate website.

ArcelorMittal reported revenues of $53.3 billion in 2020, highlighting its significant presence in steel and mining.