NEW YORK (TheStreet) -- ArcelorMittal (MT) - Get Report shares are up 1.41% to $4.32 on Monday after the steel giant announced on Thursday that it is divesting two of its U.S. operations to Black Diamond Capital Management.
The sale includes a steel facility in LaPlace, LA and a rolling mill in Harriman, TN, which makes billets, angles, flats, channels and beams, according to the Wall Street Journal.
The transaction is expected to close in April, the company said.
This comes as ArcelorMittal has been focusing on selectively exiting non-core assets amid slumping steel prices.
Based in Luxembourg, ArcelorMittal operates as an integrated steel and mining company worldwide.
Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade of D.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally high debt management risk and generally disappointing historical performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles' author.
You can view the full analysis from the report here: MT