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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| ArcelorMittal | EU:MT | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.46 | -1.91% | 23.59 | 23.54 | 23.79 | 23.96 | 23.54 | 23.95 | 2,340,129 | 16:40:00 |
From May 2021 to May 2024
By Joshua Kirby
ArcelorMittal said Friday that it has concluded the sale of its remaining stake in Cleveland-Cliffs Inc. and that the proceeds will be returned to shareholders via a share buyback.
The steelmaker's subsidiary ArcelorMittal North America Holding completed the sale of 38.2 million common shares in Cleveland-Cliffs, held as part of a sale of ArcelorMittal USA to the miner agreed last year. The proceeds will be returned to shareholders in a buyback worth $750 million, beginning immediately, ArcelorMittal said.
The buyback takes the total returns from the sale of ArcelorMittal USA to $1.9 billion so far, the company said. ArcelorMittal retains non-voting preferred stock redeemable at Cleveland-Cliffs's option for approximately 58 million common shares.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
June 18, 2021 02:31 ET (06:31 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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