German steelmaker Salzgitter AG has announced that it has received a bid from a consortium consisting of one of its largest shareholders GP Günter Papenburg Aktiengesellschaft and TSR Recycling GmbH & Co. KG to acquire the company for an undisclosed amount.
Salzgitter stated that it will review the bid and that the consortium has to acquire at least 45 percent and one share, including GP Günter’s existing shares, to assume control of the company. The German steelmaker added that it will share relevant information regarding the bid in the future.