ArcelorMittal seeks EU approval to buy Liberty Steel's French mills

  • ArcelorMittal (MT) has filed with the European Union to seek approval to buy Liberty Steel's French assets from owner Sanjeev Gupta.
  • The mills sought creditor protection in April amid financial distress at Gupta's GFG Alliance, which owns the the Ascoval and Hayange plants; GFG is now the target of a U.K. probe into possible fraud and money laundering.
  • The EU has not given a deal fast-track "simplified" status that would allow for a quick approval; the deadline for ruling on the deal is July 9.
  • ArcelorMittal recently concluded what it called its "strongest in a decade" Q1 amid surging steel prices.

    For this year ArcelorMittal 's (located in Luxembourg) revenue will be around 66.04 billion euros. This is according to the average of the analysts' estimates. This is quite more than 2020's revenue of 53.27 billion euros.

    Historical revenues and results ArcelorMittal plus estimates 2020

    fundamenteel onderzoek

    The analysts expect for 2021 a net profit of 8.26 billion euros. The majority of the analysts expects for this year a profit per share of 7.14 euros. So the price/earnings-ratio equals 3.41.

    Per share the analysts expect a dividend of 36 cents per share. The dividend yield is then 1.48 percent. The average dividend yield of the industrial companies is an attractive 1.79 percent.

    Latest estimates around 33 euros

    The most recent recommendations for the industrial metals company are from Goldman Sachs , Credit Suisse and UBS .

    Based on the current number of outstanding shares ArcelorMittal 's market capitalization is 24.65 billion euros. The ArcelorMittal stock was the past 12 months quite unstable. Since last June the stock is even 162 percent higher. This year the stock price moved between 9 and 28 euro.

    Historical stock prices ArcelorMittal2007-2021

    stock price arcelormittal

    At 13.40 the stock trades 0.31 percent higher at 24.36 euros.

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