Exclusive: ArcelorMittal in talks to merge U.S. assets with Cleveland-Cliffs

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Go back to Exclusive: ArcelorMittal in talks to merge U.S. assets with Cleveland-Cliffs

ArcelorMittal (MT) Announces Share Buyback Authorization

September 28, 2020 6:28 AM EDT

ArcelorMittal (NYSE: MT) today announces a share buyback program (the Program) under the authorization given by the annual general meeting of shareholders held on June 13, 2020 (the AGM Authorization).

For the background of this program, reference is made to our press release dated 28 September 2020 relating... More

Cleveland-Cliffs (CLF) to Acquire ArcelorMittal USA (MT) for $1.4B

September 28, 2020 6:05 AM EDT

(Updated - September 28, 2020 6:24 AM EDT)

Cleveland-Cliffs Inc. (NYSE: CLF) announced that it has entered into a definitive agreement with ArcelorMittal S.A. (NYSE: MT), pursuant to which Cleveland-Cliffs will acquire substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries for approximately $1.4 billion. Upon closure of the transaction, Cleveland-Cliffs will be the largest flat-rolled steel producer in North America, with combined shipments of approximately 17 million net tons in 2019. The company will also be the largest iron ore pellet producer in North America, with 28 million long... More