Salzgitter Faces Potential Takeover by Major Shareholder

GP Günter Papenburg AG TSR Recycling GmbH & Co. KG consider a bid to acquire a controlling stake in the steel company.

Salzgitter's stock surged by 25% following the announcement of a possible takeover bid by its second-largest shareholder.
The potential offer is contingent on the consortium acquiring at least 45% plus one share of Salzgitter's stock.
Currently, GP Günter Papenburg AG holds 25.10% of Salzgitter, while the state of Lower Saxony remains the largest shareholder with 26.5%.
Salzgitter is experiencing financial difficulties, having recently downgraded its annual forecast and anticipating a pre-tax loss of up to 325 million euros.
The takeover could also impact Aurubis, a copper company in which Salzgitter holds a 30% stake, as Aurubis shares rose by 7% in response to the news.
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