German steel producer ThyssenKrupp is seeking to merge with its German-based competitor Salzgitter, while it would also consider selling the former's elevator business, in order to save ThyssenKrupp, according to a report in Der Spiegel.
After ThyssenKrupp and Tata Steel failed to merge, new ThyssenKrupp boss Martina Merz reportedly wants to meet with Salzgitter CEO Hans Jörg Fuhrmann to explore options. However, several attempts for a merger between two companies had failed previously due to resistance from Fuhrmann and labor unions, Der Spiegel reports.