German steel producer Salzgitter AG is reviewing a non-binding takeover offer submitted by shareholders GP Gunter Papenburg Aktiengesellschaft and TSR Recycling GmbH & Co. KG, the company announced.
The offer, presented to Salzgitter’s Executive Board on January 22, 2025, proposes an indicative price of EUR 18.50 (USD 19.2) per share. Salzgitter confirmed it is assessing the proposal, including the suggested price, and stated that discussions with the consortium are ongoing with no outcome yet determined.
Salzgitter’s largest shareholder is the State of Lower Saxony, holding a 26.5pct stake, followed by GP Gunter Papenburg with 25.1pct. The remaining shares are owned by retail, institutional, and other investors.
With an annual crude steel capacity of approximately 9 mln tons, Salzgitter Group is one of Europe’s leading steelmakers. The company operates through four main divisions: steel production, steel processing, trading, and technology, supported by a global network of subsidiaries and affiliates.
