|Bid||12.53 x 142800|
|Ask||12.55 x 10700|
|Day's Range||12.03 - 12.73|
|52 Week Range||11.03 - 23.70|
|Beta (3Y Monthly)||0.84|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 8, 2019|
|Forward Dividend & Yield||0.15 (1.28%)|
|1y Target Est||22.24|
Does the June share price for thyssenkrupp AG (ETR:TKA) reflect what it's really worth? Today, we will estimate the...
Germany's Thyssenkrupp will promote Premal Desai to lead its steel division and restructure the business in the face of dwindling global demand, the elevators-to-submarines group said on Friday. Thyssenkrupp Steel Europe, whose roots go back more than 200 years, has suffered a sharp fall in profits and will bear the brunt of planned job cuts across the group. Of the 6,000 layoffs Thyssenkrupp is planning, 2,000 will come from Steel Europe, more than 7 percent of the division's workforce.
Thyssenkrupp on Friday strengthened its elevator division with a small takeover in the United States, ahead of a planned listing of the 14-billion euro ($15.6 billion) unit which has failed to revive the conglomerate's beaten shares. Thyssenkrupp has been in crisis mode for the past year and only three weeks ago scrapped an old restructuring plan - a spin-off of its capital goods units - in favour of a partial initial public offering (IPO) of its best asset: elevators. While initially welcomed by analysts and investors, shares in the company on Friday gave up all the gains they made following the strategic announcement in a major blow to Chief Executive Guido Kerkhoff's efforts to turn around the group.
Thyssenkrupp on Friday said it bought the elevator unit of U.S.-based Nashville Machine Company, strengthening its own elevator business, which it plans to list on the stock exchange to bring in fresh funds. All of Nashville Machine Elevator's 130 employees will be taken on by Thyssenkrupp's elevator division, which is valued at about 14 billion euros ($15.6 billion), almost twice Thyssenkrupp's current market valuation. Nashville Machine Company has been maintaining and installing elevators for about a century, Thyssenkrupp, which earlier this month unveiled plans for a partial listing of Elevator Technology (ET), said.
** Casino and gaming operator Rank Group Plc said that it was in advanced discussions over a possible all cash offer for smaller online peer Stride Gaming Plc. ** French energy group Total has reach a deal to buy Toshiba's U.S. liquified natural gas business, a source familiar with the matter said. ** Private equity firm TPG is looking to acquire senior living communities operator Capital Senior Living Corp, Bloomberg reported, citing people with knowledge of the matter.
Multiple parties have been given access to the books of British Steel before a deadline for formal expressions of interest in early June, the office handling the liquidation of the company said on Tuesday. "Good progress is being made in identifying potential buyers for British Steel," the Official Receiver said. "Multiple parties have signed non-disclosure agreements giving them access to a detailed information memorandum and virtual data-room that my team has developed to inform their bids.
Thyssenkrupp on Monday said it was in talks with the CEO of its steel division to end his contract, less than three weeks after the Germany group dropped plans merge the business with Tata Steel's European division. Thyssenkrupp and Tata abandoned the planned steel venture, saying they were not prepared to offer more concessions to European regulators. Thyssenkrupp instead opted to pursue a listing of its prized elevators business.
FRANKFURT/DUESSELDORF, Germany (Reuters) - Thyssenkrupp's supervisory board has left the door open for a potential sale of the group's elevator unit, which CEO Guido Kerkhoff prefers should be listed on the stock exchange, two people familiar with the matter said. The board, which approved Kerkhoff's new turnaround plan on Tuesday, unanimously backed the planned initial public offering (IPO) of a minority stake in Elevator Technology (ET), Thyssenkrupp's most profitable unit. Kerkhoff would have to review any offer for ET made by an outside party for the unit as part of his mandate, even though the listing is his plan A to raise cash and ease pressure on the group's stretched balance sheet, the people said.
Thyssenkrupp's supervisory board on Tuesday said it unanimously approved Chief Executive Guido Kerkhoff's overhaul strategy, including a plan to list its prized elevators unit, the conglomerate said. "We have agreed that the executive board will now work out the concrete plans and begin the implementation," Thyssenkrupp Supervisory Board Chairwoman Martina Merz said in a statement following a meeting of the company's directors.
When Thyssenkrupp CEO Guido Kerkhoff announced plans to list its prized elevators unit last week, he set off a battle for the conglomerate's future that could test Germany's brand of "social market" capitalism. Kerkhoff had little choice but to think the unthinkable when the company's share price sank to a 15-year low on May 8. Now Thyssenkrupp's future is in play, with activist investors on the one side baying for a restructuring of the group to drive up value, and its top shareholder - the charitable Krupp foundation - and workers on the other side with a mandate to protect the unity of the company and jobs.
European shares dropped on Friday after three days of gains, as Beijing ratcheted up its war of words with Washington over trade, weighing on risk appetite. The pan-European STOXX 600 index was down 0.7% by 0720 GMT, though it was still looking at its best weekly performance since in 1-1/2 months. The Communist Party's People's Daily used a front page commentary to say the trade war would never bring China down, after telecoms equipment giant Huawei Technologies Co Ltd was put on a U.S. blacklist.
France's Naval Group would consider buying Thyssenkrupp's marine division if the German steel-to-submarines conglomerate were to offer the unit for sale, a German newspaper cited a source close to the French group as saying. "We will look at the marine business of ThyssenKrupp if it is put on sale," Frankfurter Allgemeine newspaper cited the source as saying. A spokesman for Naval Group said the company had no comment to make on the report.
Shares in Thyssenkrupp rose as much as 7.2% on Thursday after Reuters reported Finnish company Kone is assessing the viability of a bid for the German conglomerate's 14 billion euro (12 billion pounds) elevators division. Thyssenkrupp last week dropped plans to spin off its capital goods business after months of shareholder criticism, and opted instead to list elevators, its most profitable division. Four people familiar with the matter said it was not clear if Kone could fund an all-cash bid and whether or not the deal would face significant anti-trust hurdles similar to Thyssenkrupp's failed steel joint venture with India's Tata Steel.
FRANKFURT/DUESSELDORF (Reuters) - Finland's Kone is assessing the viability of a bid for Thyssenkrupp's 14 billion euro (12 billion pounds) elevators division even as the German conglomerate pursues plans to list it, four people familiar with the matter said. Thyssenkrupp last week ditched a plan to spin off its capital goods business after months of shareholder criticism, and opted instead to list elevators, its most profitable division, to raise badly needed cash. The sources said it was not clear if Kone could fund an all-cash bid and whether or not the deal would face significant anti-trust hurdles similar to Thyssenkrupp's failed steel joint venture with Tata Steel.
Moody's Investors Service has affirmed Tata Steel Ltd.'s Ba2 corporate family rating (CFR) and the B2 CFR of its wholly owned subsidiary, Tata Steel UK Holdings Limited (TSUKH). The rating action follows Tata Steel's announcement on 10 May that it has suspended its planned divestment of the European steel operations, housed under TSUKH, into a joint venture (JV) with thyssenkrupp AG (tk, Ba2 review for downgrade).
Moody's Investors Service ("Moody's") has today placed on review for downgrade all long-term ratings of thyssenkrupp AG ("tk" or "group"), including the Ba2 corporate family rating (CFR), the Ba2-PD probability of default rating (PDR), the Ba2 instrument ratings on the senior unsecured debt facilities and the (P)Ba2 senior unsecured medium term note program rating. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating.
FRANKFURT/DUESSELDORF, Germany (Reuters) - Thyssenkrupp's elevator business, the conglomerate's crown jewel that it plans to list, saw operating margins fall in the second quarter due to higher material costs that also hit Swiss rival Schindler. The unit, which also competes with Finland's Kone and United Technologies Corp's Otis, is Thyssenkrupp's prize asset and investors have long demanded that it needs to be listed, merged with a peer, or sold. Adjusted operating profit (EBIT) margins at the division, however, fell to 10.6% in the second quarter, down from 11.6% a year earlier, Thyssenkrupp said on Tuesday.
FRANKFURT (Reuters) - Thyssenkrupp's planned stock market flotation of its elevator business is unlikely to happen this year but could take place in 2020, a senior union official said on Tuesday. The elevator ...
Thyssenkrupp's planned stock market flotation of its elevator business is unlikely to happen this year but could take place in 2020, a senior union official said on Tuesday. The elevator unit, whose initial ...
FRANKFURT (Reuters) - Thyssenkrupp will seek other partners for its steel business or explore strategic ways to develop it after a deal to merge the unit with Tata Steel's European division failed, its ...