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ArcelorMittal Buys Call Options, Sells Treasury Shares

12/16/2010 - ArcelorMittal has acquired euro-denominated call options on 61,728,395 of its own shares with a strike price of EUR 20.25 per share, and sold 26.48 million treasury shares through an over-the-counter block trade for a price of EUR 26.4227 per share.

ArcelorMittal has acquired euro-denominated call options on 61,728,395 of its own shares with a strike price of EUR 20.25 per share.
 
Acquisition of the call options will allow the company to hedge its obligations arising out of the potential conversion of the 7.25% bonds convertible into and/or exchangeable for ArcelorMittal shares due April 1, 2014, as well as its obligations under the group’s share-based employee incentive plans. The acquisition follows reopening of the company’s share buy-back program as announced on November 26.
 
ArcelorMittal sold 26.48 million treasury shares on December 14 through an over-the-counter block trade for a price of EUR 26.4227 per share.
 
As a result of the transaction, ArcelorMittal strengthens its equity by EUR 699.67 million.
 
ArcelorMittal, one of the world's leading steel companies, has operations in more than 60 countries. The company leads major global steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.
 
Through its core values of Sustainability, Quality and Leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources.
 
In 2009, ArcelorMittal had revenues of $65.1 billion and crude steel production of 73.2 million tonnes, representing approximately 8 per cent of world steel output.