UK’s Liberty Steel has firmed up its offer for German conglomerate thyssenkrupp’s steel business, the former said in a statement on Jan 25.
The UK-based steelmaker had initially made an offer to buy the beleaguered German business in November 2020, after thyssenkrupp began considering its sale as part of its restructuring initiative, according to media reports.
As per media reports, if thyssenkrupp were to accept Liberty’s offer, the resulting acquisition would create a €200-300mn business. Reports said that Liberty would be able to reduce its purchase of around 3mn mt of hot-rolled coil from third-parties by using thyssenkrupp’s production units to make them.