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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  ArcelorMittal    MT   LU1598757687

ARCELORMITTAL

(MT)
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ArcelorMittal announces share buyback program

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09/28/2020 | 02:55am EDT


28 September 2020, 07:55 CET

ArcelorMittal 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 to the announcement of a definitive agreement pursuant to which Cleveland-Cliffs Inc will acquire 100% of the shares of ArcelorMittal USA for a combination of cash and stock.

The shares acquired under the Program are intended i) to meet ArcelorMittal’s obligations under debt obligations exchangeable into equity securities, and/or ii) to reduce its share capital. ArcelorMittal intends to repurchase, between 28 September 2020 and 31 March 2021, shares for an aggregate maximum amount of US$500 million in accordance with the AGM Authorization and applicable market abuse regulations.

ENDS

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 18 countries. In 2019, ArcelorMittal had revenues of $70.6 billion and crude steel production of 89.8 million metric tonnes, while iron ore production reached 57.1 million metric tonnes.

Our goal is to help build a better world with smarter steels. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century.

With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.

For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com/


 
 
Contact information ArcelorMittal Investor Relations 
  
Europe+44 20 7543 1156
Americas+1 312 899 3985
Retail+44 20 7543 1156
SRI+44 20 7543 1156
Bonds/Credit+33 171 921 026
  
  
Contact information ArcelorMittal Corporate Communications 
 

E-mail:
 

press@arcelormittal.com
Phone:+442076297988
  
  
ArcelorMittal Communications

 
 
Paul Weigh

 
+44 20 3214 2419

 

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© GlobeNewswire 2020

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Financials (USD)
Sales 2020 52 536 M - -
Net income 2020 -1 954 M - -
Net Debt 2020 7 356 M - -
P/E ratio 2020 -7,30x
Yield 2020 0,37%
Capitalization 14 833 M 14 843 M -
EV / Sales 2020 0,42x
EV / Sales 2021 0,37x
Nbr of Employees 191 248
Free-Float 68,5%
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Technical analysis trends ARCELORMITTAL
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 16,66 $
Last Close Price 13,57 $
Spread / Highest target 56,7%
Spread / Average Target 22,8%
Spread / Lowest Target -48,6%
EPS Revisions
Managers
NameTitle
Lakshmi Niwas Mittal Chairman & Chief Executive Officer
Aditya Mittal President & Chief Financial Officer
Brian Edward Aranha CTO, Executive VP, Head-Research & Development
Michel Wurth Non-Independent Non-Executive Director
Vanisha Mittal Bhatia Non-Independent Non-Executive Director
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