Outokumpu confirms talks with ThyssenKrupp for stainless merger

Finland-based steelmaker Outokumpu has confirmed that it is negotiating with the German steel giant ThyssenKrupp regarding a potential merger with ThyssenKrupp's stainless steel unit Inoxum.
 
According to Outokumpu's statement, the discussions about the merger are still in progress and there is "no assurance that any transaction will be proposed or consummated."
 
ThyssenKrupp would likely have a minority stake in the new company. However, ThyssenKrupp is also keeping all options open, including an initial public offering, a spin off or a sale to another investor.