ArcelorMittal (MT) Sells Remaining 38.2M Shares of Cleveland-Cliffs (CLF), Announces $750M Buyback

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ArcelorMittal announces sale of Cleveland-Cliffs common stock with the proceeds to be returned to shareholders via a $750 million share buyback 

June 18, 2021 2:00 AM EDT

18 June 2021, 08:00 CET

ArcelorMittal North America Holding, a wholly owned subsidiary of ArcelorMittal SA (ArcelorMittal or the Company) announces today the conclusion of the sale of its remaining 38.2 million common shares in Cleveland-Cliffs Inc. (Cleveland-Cliffs) following receipt of the shares on 9 June 2021.

The value crystalized from this sale of Cleveland-Cliffs common shares* will be returned to shareholders via a new $750 million share buyback program of ArcelorMittal common shares. This new share buyback program will commence... More