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Salzgitter AG voluntary buyout preparations begin

GP Günter Papenburg AG and TSR Recycling GmbH & Co. KG announced that they intend to form a joint consortium to gain control of Salzgitter AG by acquiring more than 45% of the company's shares.

Salzgitter AG voluntary buyout preparations begin

The consortium aims to gain control of the management of Salzgitter AG by acquiring more than 45% of Salzgitter AG's shares. Therefore, the formal process for the voluntary share purchase offer is initiated.

The consortium must secure at least 45% plus one share by the set date to successfully gain control of the company. Including the existing shares of GP Günter Papenburg AG.  The acquisition is expected to have a major impact on the steel industry; Salzgitter AG's strategic direction, investment plans, and market position could change significantly.

The price per share has not yet been announced, however, the consortium stated that it intends to comply with all legal and regulatory requirements. Detailed information on pricing is to be announced to the public within the coming days.

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