Ilva runs Europe's biggest steel plant in the southern Italian city of Taranto but has for some time been at the center of an environmental scandal, according to Reuters.
It was put under special administration last year after magistrates seized $11 billion from its owners, the Riva family, amid allegations the plant's toxic emissions caused abnormally high rates of cancer, Reuters said.
Shares of ArcelorMittal are slightly lower at $13.88.
TheStreet Ratings team rates ARCELORMITTAL SA as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ARCELORMITTAL SA (MT) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow, poor profit margins and generally higher debt management risk."
Highlights from the analysis by TheStreet Ratings Team goes as follows: