Liberty Steel Firms Up Offer For Thyssenkrupp Steel Unit

- Jan 25, 2021-

Britain's Liberty Steel, Europe's fourth-argest steelmaker, said on Monday it had submitted an updated offer for German conglomerate Thyssenkrupp's steel divisionThe move comes about three months after Liberty Steel said it had made a non-binding indicative bid for the unit, which Thyssenkrupp has put on the block as part of a bigger group restructuring"This is an important step for Liberty demonstrating our binding commitment to the combination of the two businesses."Liberty Steel said in a statement. without disclosing any details of the offer. "Due dilicence and our discussions with Thyssenkrupp have so far confirmed that a potential combination of Thyssenkrupp Steel Europe and Liberty Steel is the right answer from an economic. social, and environmental persnective "Thyssenkrupp, which sources have said is also considering a spin-off of its steel division, said it would now carefully.examine what Liberty Steel savs is a "firmed up bid.

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