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TYEKF vs. ETF Alternatives
Thursday, Nov 72013, 7:46 AM
Thursday, Nov 72013, 7:46 AM| Comment!
- ArcelorMittal (MT) remains interested in a potential purchase of ThyssenKrupp's (TYEKY, TYEKF) steel rolling mill in Alabama, CFO Aditya Mittal said in this morning's earnings call.
- Shares +5.7% premarket after reporting improved Q3 results and offered an optimistic outlook; analysts say the results probably would prompt market upgrades of core profit forecast by 2%-4%.
Friday, Jul 262013, 9:56 AMSiderurgica Nacional (SID +5%) pops at the open after reports say talks concerning the purchase of two ThyssenKrupp steel plants broke down; the apparent sticking point is the price of the Alabama facility. An agreement in principle to buy a ~33% stake in ThyssenKrupp's plant in Brazil could be jeopardized; SID wants control of both plants, and sources say if it cant have both, it might walk away. |Friday, Jul 262013, 9:56 AM| Comment!
Tuesday, May 72013, 3:26 PMVale (VALE +3%) says it hasn't been contacted by ThyssenKrupp about a reported proposal to increase its stake in a troubled Brazilian steel mill. The German steelmaker is seeking to sell two plants in the Americas, including one near Rio de Janeiro in which Vale has a 27% stake. One proposal was said to have Vale increasing its stake in the mill to 33%. |Tuesday, May 72013, 3:26 PM| Comment!
Friday, May 32013, 3:31 AMThyssenKrupp AG (TYEKY.OB, TYEKF.PK) +5% in Frankfurt on news Companhia Siderrgica Nacional (SID), Brazil's No.3 steelmaker, has reportedly emerged as the leading bidder for its Brazilian and U.S. steel-plant assets. For now, ThyssenKrupp remains in parallel negotiations with Vale (VALE) and the Brazilian gov't for the assets. ThyssenKrupp has spent the last year figuring out how to dispose of the unprofitable plants. |Friday, May 32013, 3:31 AM| Comment!
Tuesday, Apr 302013, 12:22 PMLatin American steelmaker Ternium (TX +5.1%) surges higher after saying it won’t pursue a purchase of ThyseenKrupp's (TYEKF.PK) steel plant in Rio de Janeiro state in Brazil because of its valuation and industry conditions in Brazil. TX says it is assessing alternative growth options after backing out of the bidding process. (Q1 earnings) |Tuesday, Apr 302013, 12:22 PM| Comment!
Wednesday, Jan 92013, 12:39 PMArcelorMittal (MT -3.8%) has submitted a bid to ThyssenKrupp (TYEKF.PK) reflecting its interest in purchasing the German steelmaker's steel plant in Alabama, MT's CFO says. A successful bid would strengthen MT's presence in the U.S. automotive sector while stemming losses at Krupp, which suffered huge cost overruns and massive losses during the ramp-up of the Alabama plant. |Wednesday, Jan 92013, 12:39 PM| Comment!
Friday, Nov 302012, 3:11 PMBrazilian steelmaker CSN (SID -6.6%) is offering to buy ThyssenKrupp's plants in the Americas for ~$3B, Bloomberg reports. ThyssenKrupp announced in May that a sale of its U.S. and Brazilian plants is among strategic options amid rising building costs and project delays. |Friday, Nov 302012, 3:11 PM| Comment!