ArcelorMittal to buy back 44 mn shares
The ArcelorMittal Board of Directors approved a new share buy-back programme for up to a maximum of 44 million shares.
By PTI |
LONDON: The ArcelorMittal Board of Directors on Wednesday approved a new share buy-back programme for up to a maximum of 44 million shares.
The new share buy-back programme is aimed at offsetting the issuance of 44 million ArcelorMittal shares that took place in connection with the group's merger on November 13, 2007.
This programme would be realised in a two-year time frame, the company said in a release.
It is ArcelorMittal's intention to use the repurchased shares either for supporting potential future corporate opportunities or for cancellation, it said.
The new share buy-back programme is aimed at offsetting the issuance of 44 million ArcelorMittal shares that took place in connection with the group's merger on November 13, 2007.
This programme would be realised in a two-year time frame, the company said in a release.
It is ArcelorMittal's intention to use the repurchased shares either for supporting potential future corporate opportunities or for cancellation, it said.
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