Stephen Simpson, CFA
Thu, Apr. 14, 6:26 PM
- ArcelorMittal (NYSE:MT) gained more than 4% in today's trade after German newspaper Handelsblatt reported that ThyssenKrupp (OTCPK:TYEKF) had initiated talks about a possible merger.
- The German steelmaker also is said to be meeting with Tata Steel and Salzgitter.
- Any deal between ThyssenKrupp and one of the three companies likely would be reached before the end of the year, and could be structured in a way that it starts out as a partnership and evolves into a merger later on, according to the report.
- Now read ArcelorMittal: The bull run will continue
Sep. 15, 2014, 8:49 AM
- Nucor (NYSE:NUE) agrees to acquire the Gallatin Steel business from ArcelorMittal (NYSE:MT) and Gerdau (NYSE:GGB) for ~$770M.
- NUE says adding the Gallatin flat-rolled products mill in Kentucky, with an annual capacity of ~1.8M tons, will broaden its footprint in the U.S. midwest and will increase its total flat-rolled product annual capacity by 16% to ~13M tons.
- NUE expects the deal to be immediately accretive to cash flow and accretive to earnings after working through purchase accounting-valued finished goods inventories.
- MT and GGB each owned 50% interests in Gallatin.
- NUE +0.9%, MT -0.5% premarket.
Dec. 1, 2013, 11:15 AM
- ArcelorMittal's (MT) deal for an Alabama steel plant will not materially affect the company's medium-term debt outlook, CEO Lakshmi Mittal says. Net debt targets remain intact at $17B by year's end and $15B over the medium-term.
- MT and partner Nippon Steel (NSSMY) will split the equity component of the ThyssenKrupp transaction, MT's CFO notes.
- Other takeaways from a conference call with reporters: MT "[does] not anticipate major problems from the Department of Justice [or] the Department of Commerce," and Lakshmi Mittal's outlook for 2013 worldwide steel consumption growth is unchanged at +3-3.5%.
- For more on the deal, see here.
Dec. 1, 2013, 2:35 AM
- ThyssenKrupp (TYEKY, TYEKF) CEO Heinrich Hiesinger expects U.S. antitrust authorities to scrutinize his company's $1.55B sale of its troubled steel mill in Alabama to ArcelorMittal (MT) and Nippon Steel & Sumitomo Metal (NSSMY).
- "Considering the already dominant market position of ArcelorMittal in the U.S. (auto steel) market, it is likely that authorities will take their time to look into this transaction," Hiesinger said.
- ArcelorMittal doesn't expect to encounter problems getting the deal approved even though the company controls almost 40% of the market for North American auto steel.
Nov. 19, 2013, 5:28 PM
- ThyssenKrupp (TYEKY) said it is in exclusive negotiations on the sale of its Alabama steel plant. ArcelorMittal's (MT +0.6%) CFO recently expressed interest in the operation.
- The German steelmaker has been shopping the plant, as well as its Brazilian mills, for over a year and a half - they have hurt its bottom line and sapped capital for years.
Sep. 29, 2013, 11:03 AM
- ArcelorMittal (MT) has agreed to sell a 21% stake in its Algerian operations to state-run company Sider as part of a $763M investment agreement.
- Following the deal, Sider's holding will increase to 51% from 30%, while ArcelorMittal's will fall from 70% to 49%.
- The financial terms of the sale weren't disclosed.
Jan. 2, 2013, 9:02 AM
Markets 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.| Jan. 2, 2013, 9:02 AM
Jan. 1, 2013, 7:22 AM
Posco confirms that it is part of a group that has agreed to acquire a 15% stake in iron-ore company ArcelorMittal Mines Canada (MT) for $1.1B. Earlier today, it was reported that China Steel will invest $540M and Posco $270M, with the South Korean firm looking to bring in other potential investors. (Previously)| Jan. 1, 2013, 7:22 AM | 2 Comments
Jan. 1, 2013, 6:02 AM
Posco (PKX) says it has agreed to acquire a stake in ArcelorMittal Mines Canada, although the South Korean company hasn't decided how big a holding it will buy or how much it will spend. Different reports said that Posco will purchase 15% for $1.1B, or that the firm will acquire the holding as part of a group that includes China Steel. In October, ArcelorMittal (MT) was reported to be considering selling 30% of the Canadian iron ore unit. (Previously)| Jan. 1, 2013, 6:02 AM | 3 Comments
Dec. 13, 2012, 5:21 AM
ArcelorMittal (MT) CEO Lakshmi Mittal confirms the company could be interested in acquiring ThyssenKrupp's (TYEKF.PK) steel plant in Alabama. Credit Suisse's Michael Shillaker reckons that buying the facility, likely to fetch $1B-1.5B, "could be a smart move," but probably would add to MT's high net debt. On France, where MT has had its problems, Mittal says it's still a "place we can do business" in.| Dec. 13, 2012, 5:21 AM
Dec. 4, 2012, 3:21 AM
A Posco (PKX) led group is reportedly in exclusive negotiations to acquire a 10% stake in ArcelorMittal Mines Canada (MT) after the consortium was named as the preferred bidder for the holding, which is worth $1B. Previous speculation said the South Korean steelmaker would invest $200M-300M in the iron-ore miner, with the rest coming from its partners.| Dec. 4, 2012, 3:21 AM
Nov. 15, 2012, 8:53 AMArcelorMittal (MT) agrees to sell its 50% stake in South African manganese explorer Kalagadi Manganese for 3.9B rand ($447M) as it continues to sell non-core assets to pay down debt. The three farms on which Kalagadi holds mining rights are believed to contain 960M metric tons of manganese ore. | Nov. 15, 2012, 8:53 AM
Nov. 14, 2012, 4:26 AMSouth Korean steelmaker POSCO (PKX) is part of a consortium seeking to acquire a 10% stake in ArcelorMittal Mines Canada (MT) for $1B, South Korean publication Money Today reports. POSCO would invest $200M-300M in the iron-ore miner, with the rest coming from its partners. POSCO would only confirm that it's looking at buying a stake in the ArcelorMittal unit. | Nov. 14, 2012, 4:26 AM
Oct. 2, 2012, 4:52 AM
ThyssenKrupp (TYEKF.PK) is considering selling its two-year old $5B high-tech steel plant in Alabama and its $6.8B facility in Brazil after a strategy to transport slabs from the latter facility for processing into high-grade sheets in the U.S. factory led to massive losses. Those officially or unofficially interested in the Alabama plant include Nucor (NUE), U.S. Steel (X) and ArcelorMittal (MT).| Oct. 2, 2012, 4:52 AM | 1 Comment
Jul. 25, 2012, 2:36 AM
ArcelorMittal (MT) agrees to sell its 48.1% stake in Paul Wurth Group to SMS GmbH, as part of the company's strategy to divest non-core assets. Financial terms weren't disclosed. (PR)| Jul. 25, 2012, 2:36 AM
May 18, 2012, 1:17 AM