Major Shareholder of Salzgitter AG Plans to Acquire Entire Company

A major shareholder of German steel producer Salzgitter AG has informed the company of plans to acquire it. GP Günter Papenburg Aktiengesellschaft, in collaboration with TSR Recycling GmbH & Co. KG, is working on plans to make a voluntary public takeover offer if it can acquire more than 45% of the company's shares. As of the end of last year, GP Günter Papenburg Aktiengesellschaft held a 25% stake in the company, making it the second-largest investor. Salzgitter stated that no price range for any potential offer was mentioned. The company’s current market value is €832.3 million.