(RTTNews) - Arcelor Mittal (MT) climbed in pre-market trading, after the United Steelworkers said its union members were granted strike authorization at the company.
The stock was up 75 cents just before 9:00 am ET, advancing to $78.38. If pre-market gains hold, the stock will open at its highest level in a week.
The United Steelworkers or USW, which represents over 14,000 ArcelorMittal employees, announced that union members voted to support their Bargaining Committee by giving them the authority to call a strike against company, should that become necessary.
USW noted that the current labor agreement with ArcelorMittal USA expires September 1, 2008. The two sides have been negotiating since April and will continue to meet through the weekend, if necessary.
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