Apparently, Liberty Steel from Great Britain has submitted an offer for ThyssenKrupp’s European steel business. The British have since confirmed such a non-binding offer. This should be checked, but you also want to talk to other interested parties. ThyssenKrupp’s goal is to find a sustainable and future-proof solution for this area. The division is suffering from the pandemic and the weakness of the auto industry.
According to the latest statements from politics, the division is unlikely to enter the state, and the formation of a Deutsche Stahl AG also appears unlikely.
DZ Bank analysts currently rate ThyssenKrupp’s steel division at 1.2 billion euros. However, since the group is in a rather weak negotiating position, an offer price could be below expectations.
The analysts are increasing their rating for ThyssenKrupp shares from “sell” to “hold”. The experts still see the price target at EUR 4.80.
ThyssenKrupp shares gain 11.9 percent to 4.658 euros. The market is clearly hoping for a good British offer.