Published by Global Banking & Finance Review®
Posted on April 11, 2025
1 min readLast updated: January 24, 2026
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Salzgitter ends takeover talks with a consortium due to differing views on value. The company aims to cut costs by 500 million euros and expects steel demand to rise.
(Reuters) - German steel producer Salzgitter has ended talks with a bidding consortium on a possible takeover, it said on Friday, citing differing views on the company's current and future value.
The bidding consortium, comprising Salzgitter's second-largest shareholder GP Günter Papenburg and TSR Recycling, was considering a takeover of the German steelmaker and had offered around 18.50 euros ($20.87) per share.
Also in its statement on Friday, Salzgitter said it had increased a cost-cutting goal to 500 million euros, double a previous target of 250 million, and that it had achieved 130 million euros by the end of 2024.
For the future, it predicted demand for steel would increase.
"It can also be assumed that the incoming German government's planned economic policy measures in the areas of climate protection, infrastructure, and defence will have a positive impact in the coming years," it said.
($1 = 0.8834 euros)
(Reporting by Tristan Veyet in Gdansk; editing by Barbara Lewis)
The main topic is Salzgitter ending takeover talks with a consortium due to differing views on the company's value.
The consortium included GP Günter Papenburg and TSR Recycling.
Salzgitter plans to increase its cost-cutting goal to 500 million euros and expects steel demand to rise.
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