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Salzgitter Receives Potential Takeover Bid
11/06/2024 - Salzgitter will weigh a potential takeover offer from a major shareholder and a partner, the German steelmaker has said.
Salzgitter said in an announcement Monday that it will review the offer from industrial conglomerate GP Günter Papenburg Aktiengesellschaft and partner TSR Recycling, if they are able to acquire more than 45% of the company’s stock.
According to Bloomberg, the company is Salzgitter’s second-largest investor and owns 25% of its shares, as of the end of 2023.
Salzgitter said it has not received the range of a potential offer price.
Bloomberg has more here.
According to Bloomberg, the company is Salzgitter’s second-largest investor and owns 25% of its shares, as of the end of 2023.
Salzgitter said it has not received the range of a potential offer price.
Bloomberg has more here.
