- Thyssenkrupp (OTCPK:TYEKF) is in talks with the German government over an aid package for its struggling steel unit worth at least €5B ($5.9B), well exceeding the company's current market value, Bloomberg reports.
- Chancellor Merkel's government has signaled a willingness to provide financial support to shore up the unit and ensure future domestic production of an environmentally friendly form of steel, according to the report.
- The company and politicians are said to be exploring ~€2B in liquidity from a government fund and at least €3B in grants.
- Liberty Steel Group recently made a non-binding indicative offer to acquire Thyssenkrupp's steel operations.