Liberty Steel submitted an offer for Thyssen-Stahl

finance

The steel division of the German ThyssenKrupp group has around 27,000 employees.

Liberty Steel submitted an offer for Thyssen-Stahl

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The German Thyssenkrupp Group has received an updated offer for its steel division from its British competitor Liberty Steel. Thyssenkrupp will now carefully examine this, Thyssenkrupp announced on Monday. The company did not provide any details.

Liberty Steel said that after examining the books and after intensive discussions with Thyssenkrupp, it had been confirmed that a merger of the two companies would be the right answer. Talks with Thyssenkrupp, the shareholders and the employee representatives would continue.

losses

In mid-October, Liberty Steel submitted a non-binding offer for Thyssenkrupp Steel Europe. The steel division employs around 27,000 people and is currently posting high losses. Group boss Martina Merz is examining several options for the steel division, including, according to insiders, an IPO.

Workers' representatives and IG Metall had rejected Liberty's plans and voted for state participation.

Initially, no comments were received from them on the updated offer.

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