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ArcelorMittal Structures Bid for ThyssenKrupp Plant

ArcelorMittal, the world’s largest steelmaker, said it’s structured a bid for ThyssenKrupp’s Alabama steel plant.

“Alabama is a world-class asset,” Chief Financial Officer Aditya Mittal said today on a conference call, citing “synergies” with the company’s American operations. “We’ve structured a bid which will allow us to participate, which does not detract from us achieving a net-debt target of $17 billion by June-end.”

ThyssenKrupp said Dec. 11 there were more than five bidders interested in one or both of its plants in Alabama and Rio de Janeiro. The German company rose as much as 4.2 percent in Frankfurt trading after today’s announcement.

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