ArcelorMittal, the biggest steelmaker, is seeking about $3.5 billion through a sale of shares and bonds that automatically become stock to reduce debt. It also announced a bid for a ThyssenKrupp AG plant in Alabama.
ArcelorMittal , the world’s biggest steelmaker, forecast third-quarter profit will slump as much as 30 percent from the prior three months as China’s economy slows, costs rise and demand weakens during the European summer.
ArcelorMittal Chief Financial Officer Aditya Mittal comments on challenges for the steel industry including the European Union carbon price. He was speaking today on a call with reporters. The Luxembourg-based company is the world’s biggest steelmaker.