Liberty Steel set to bid for Thyssenkrupp steel – Thyssenkrupp stocks up 23 percent.
Privately-held Liberty Steel is set to make a bid for the ailing steel unit of Germany’s Thyssenkrupp, a source close to the process told Reuters on Thursday.
The move was first reported by German magazine Spiegel. Liberty Steel was not immediately available to comment and Thyssenkrupp declined comment.
Thyssenkrupp, whose steel unit likely made an operating loss of about 1 billion euros ($1.2 billion) last year, is also exploring tie-ups with India’s Tata Steel, Germany’s Salzgitter and Sweden’s SSAB, sources have told Reuters.
Source: Reuters, Bloomberg