- European activist investor Cevian Capital acquires a 5.2% stake in steelmaker ThyssenKrupp (TYEKY.OB, TYEKF.PK), saying its shares are undervalued but that it was encouraged so far by a recent strategic shift by management.
- ThyssenKrupp has said it would restructure the company - cutting costs, shopping its loss-making Steel Americas operations and streamlining its European steel operations - so Cevian's next move is not clear.
- Shares are ~3.5% higher in Frankfurt trading.
Europe's Cevian Capital takes stake in ThyssenKrupp
Sep 25 2013, 07:42 ET