Wednesday, September 21, 2005

Thyssen Krupp rumour

FRANKFURT, Sept 20 (Reuters) - German steel and industrial goods conglomerate ThyssenKrupp. on Tuesday denied market rumours that the group was a takeover target for a U.S.-based company. "That is nonsense," a spokesman for ThyssenKrupp said, when asked about rumours that had helped lift the stock as much as 2.6 percent. It closed up 1.5 percent at 16.60 euros.
The company's free float amounts to around 80 percent of its stock capital. The Alfred Krupp von Bohlen und Halbach Foundation in Essen controls 20 percent of ThyssenKrupp's voting rights.
Traders said potential suitors included U.S. Steel but the company declined to comment on the rumour.

ThyssenKrupp is not the only German steelmaker to find itself the target of takeover rumours recently. Shares in Salzgitter Germany's second-largest steelmaker after ThyssenKrupp, rose at the beginning of the month following speculation that U.K.-rival Corus might make a bid.
Source Reuters

Changing the subject. Paul across at Tinbasher, has pointed the way to advice on what anyone aspiring to a career in the metal industry can expect in the US. I note it doesn’t tell you about the errands for “striped paint” or how to make your beer money out of the “sandwich run”, but maybe that’s peculiarly British.


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