thyssenkrupp: ends deal talks with Liberty Steel
(CercleFinance.com) - thyssenkrupp and Liberty Steel have ended their talks regarding a possible acquisition of thyssenkrupp's steel business in Europe by the British company, due to disagreements on the deal's structure.
Four weeks ago Liberty Steel said that it had submitted a non-binding offer to thyssenkrupp to acquire its steel division in Europe, with the German industrial conglomerate saying that it "carefully examined this offer."
But thyssenkrupp said this morning that their ideas about the corporate value and the structure of the transaction were "far apart."
"There was a close exchange between thyssenkrupp and Liberty Steel on a number of complex topics," the group said. "As a result, however, no common solution could be found for key requirements addressed by thyssenkrupp," it added.
thyssenkrupp shares were down 0.8% on the news.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
Four weeks ago Liberty Steel said that it had submitted a non-binding offer to thyssenkrupp to acquire its steel division in Europe, with the German industrial conglomerate saying that it "carefully examined this offer."
But thyssenkrupp said this morning that their ideas about the corporate value and the structure of the transaction were "far apart."
"There was a close exchange between thyssenkrupp and Liberty Steel on a number of complex topics," the group said. "As a result, however, no common solution could be found for key requirements addressed by thyssenkrupp," it added.
thyssenkrupp shares were down 0.8% on the news.
Copyright (c) 2021 CercleFinance.com. All rights reserved.