The shareholder of Salzgitter AG GP Günter Papenburg Aktiengesellschaft has notified the Company that it considers, together with TSR Recycling GmbH & Co. KG (jointly the “Consortium”), to submit a voluntary public takeover bid to the shareholders of the Company in order to acquire shares of the Company.
The possible offer shall, among other things, be subject to the Consortium achieving an aggregate shareholding of at least 45 % + one share (including the shares already held by GP Günter Papenburg Aktiengesellschaft) by the end of the acceptance period. The range of a potential offer price has not yet been mentioned to the Company.
The company will inform the capital market about further relevant developments in this regard without undue delay in accordance with its legal obligations. In case of the consortium actually submitting a voluntary public takeover bid to the shareholders of the company, the Executive Board and the Supervisory Board will issue a reasoned opinion.
Prior to the announcement, Salzgitter’s shares had decreased 46% over the preceding 12 months, Bloomberg reports.