Liberty and thyssenkrupp confirm takeover prudence

Liberty Steel and thyssenkrupp have confirmed they will be involved in a due diligence process that could eventually lead to the takeover of thyssenkrupp Steel Europe by Liberty.

“Thyssenkrupp and Liberty Steel Group have agreed to move to the next stage of the process,” the British group said in a statement to Callanish. He "... will start a detailed due diligence shortly and thus gain insight into the key business data of thyssenkrupp's steel business."

A similar statement was made by thyssenkrupp. As early as last week, insiders told news outlets that the next round of takeover negotiations was near.

Meanwhile, the Minister of Economic Affairs of North Rhine-Westphalia, Andreas Pinkquart, was noted in the local press as positive towards the negotiations. "This is a reasonable basis for discussion," he said of Liberty's optional offer after speaking with Liberty chief Sanjeev Gupta. Pinkquart said the Liberty concept is essential and welcomed the group's apparent commitment to push the transformation towards green steel.

At the same time, Pinkwart was skeptical about the possible involvement of the state in thyssenkrupp as an interested party. According to him, the legal requirements are such that this option is practically impossible.