Steelmaker Vallourec Jumps After ArcelorMittal Buys 28% Stake [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: (Bloomberg) — Vallourec SA rose to the highest in nearly four years after ArcelorMittal SA agreed to buy a $1.04 billion (€955 million) equity stake in the steelmaker from Apollo Global Management. ArcelorMittal said late Tuesday it signed a share purchase agreement to acquire a 28% equity interest in Vallourec as it looks to strengthen its presence in the market for tubular steel, which is used in the energy and industrial sectors. The French company has the majority of its capacity in the US and Brazil, according to the statement. Article content Article content Vallourec jumped as much as 9.8% to €16.29 a share in Paris, reaching the highest level since June 2020 on an intraday basis. The company's shares have rallied more than 70% since Apollo Global became a key stakeholder as part of a restructuring in February 2021. “Along with this business transformation have come record levels of profitability, a more sustainable competitive position and a
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- ArcelorMittal S.A.: ArcelorMittal announces the publication of its first quarter 2024 sell-side analyst consensus figuresGlobeNewswire
- ArcelorMittal S.A.: ArcelorMittal publishes its 2023 Integrated Annual ReviewGlobeNewswire
- U.S. Department of Energy announces financial support for ArcelorMittal's anticipated World-Class Electrical Steel facility in Alabama [Yahoo! Finance]Yahoo! Finance
- ArcelorMittal S.A. (NYSE: MT) had its "hold" rating re-affirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $31.00 price target on the stock, down previously from $34.00.MarketBeat
- ArcelorMittal's Irina Gorbounova Joins CHAR Tech Board of Directors [Yahoo! Finance]Yahoo! Finance
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- 2/8/24 - Beat
MT
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- 4/10/24 - Form 6-K
- 4/8/24 - Form F-3ASR
- MT's page on the SEC website