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Markets like ArcelorMittal's (MT) agreement to sell a 15% stake in its Canadian iron ore unit to...
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Wednesday, January 2, 9:02 AM ETMarkets like ArcelorMittal's (MT) agreement to sell a 15% stake in its Canadian iron ore unit to a consortium of Asian investors, believing it will help the steelmaker reduce its substantial debt. Macquarie says the deal's implied $7.3B valuation for the mining operations is “an excellent result” for MT, and could be a sign the company "believes the iron ore cycle is past its peak.” MT +2.2% premarket.
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