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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

After Winning Ilva, ArcelorMittal Sets Sight on Next Goal

Mark O'Hara
Updated
After Winning Ilva, ArcelorMittal Sets Sight on Next Goal

On May 7, ArcelorMittal (MT), the world’s biggest steel producer, announced that it had received permission from the European Commission to acquire Ilva. The acquisition is expected to enhance ArcelorMittal’s presence in Italy, Europe’s second-largest steel-consuming region. Despite getting most its revenue from Europe, ArcelorMittal had a limited presence in Italy prior to this deal. The European Commission’s final permission was largely expected after ArcelorMittal agreed to divest some of its assets in Europe.

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