Takeover of Salzgitter AG? Lower Saxony is getting involved!

Takeover of Salzgitter AG? Lower Saxony is getting involved!

Hanover.Sensation in the steel sector! Lower Saxony's Prime Minister Stephan Weil has announced explosive talks about the possible takeover of the renowned steel group Salzgitter by the companies GP Günter Papenburg and TSR Recycling. While the state of Lower Saxony is the largest shareholder with a 26.5 percent stake in Salzgitter AG, the waves in the industry seem to be rising. But Weil is cautious: “We currently see no need to change the shareholdings,” he said in the state parliament and announced that the discussions would be conducted objectively.

“We are only at the beginning of this new discussion,” emphasized Weil, making it clear that everyone involved will come to the table in the next few days. The discussions with the providers, the board and the union are of central importance to him. The future of Salzgitter AG, which secures over 25,000 jobs in the region, is at stake! Particular attention is paid to whether the intended takeover is beneficial to CO2-free steel production and whether social peace and the rights of employees are preserved.

Unclear offer details

Salzgitter AG itself only confirmed the disbelief surrounding the takeover intentions on Monday. GP Günter Papenburg AG, which already holds 25.1 percent, is planning a takeover offer together with TSR Recycling. But how high will the offer be? The details are still completely unclear! One thing is certain: the consortium is aiming for control of at least 45 percent plus one share in order to have a say in the company's fate. Uncertainty about the level of the offer price is buzzing in the air - the industry is holding its breath!