Arcelor to reduce debt even with TK bid
Jan 09, 2013 | 05:06 PM
| Chris Prentice
NEW YORK An ArcelorMittal SA executive confirmed the companys interest in ThyssenKrupp AGs Calvert, Ala., facility during a conference call with investors addressing the companys capital-raising and debt-reduction targets.
The Luxembourg-based steelmaker announced a plan to raise $3.5 billion in capital through a combined offering of common stock and convertible notes on the call Wednesday morning. That offering and select divestitures from the companys Mines Canada and Kalagadi Manganese assets are parts of an initiative to cut the companys debt to $17 billion by June 30 from $22 billion as of Dec. 31.....
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