|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||13.86 - 14.17|
|52 Week Range||12.63 - 28.32|
|Beta (3Y Monthly)||1.06|
|PE Ratio (TTM)||924.00|
|Forward Dividend & Yield||0.17 (1.24%)|
|1y Target Est||N/A|
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.
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.
In meeting with shareholders in London this week, he’s urged them to be patient and temper expectations for quick turnaround. Reuters reported that Kone Oyj is exploring a bid for the unit, sending Thyssenkrupp shares rallying as much as 7.9%.
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, 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 ...
Thyssenkrupp AG’s earnings tumbled 27% in the first half of 2019 as Germany’s economic slowdown took a toll on the engineering company that’s been engulfed in turmoil over the past year. With a steep cash drain in the first half, the results will reinforce criticism from Thyssenkrupp’s top investors that the company needs a dramatic action. Chief Executive Officer Guido Kerkhoff presented a new strategic plan on Friday aimed at halting Thyssenkrupp’s downward spiral.
The German conglomerate said on Tuesday it recorded a net loss attributable to shareholders of €99m during the period, versus a €240m profit a year earlier. Of ThyssenKrupp’s six divisions, four reported lower earnings than a year ago and the two that improved failed to make money. The Essen-based group blamed the performance on an “economic slowdown, especially in the automotive sector,” to which it supplies components.
If Thyssenkrupp’s lifts went up and down as fast as its shares, passengers would soon get giddy. Like other European conglomerates, Thyssenkrupp has long pondered how best to manage businesses ranging from steelmaking to submarines. The chairman and chief executive left last year after pressure from disgruntled shareholders, including activists Cevian Capital and Elliott.
Thyssenkrupp will still seek partners for its steel operations after abandoning a European merger with India's Tata Steel, Chief Executive Guido Kerkhoff said in comments published on Sunday. Kerkhoff ditched a restructuring plan on Friday, in which the merger was a key part, and resolved instead to transform the steel-to-submarines group into a holding company and list its profitable elevators business. The blueprint will go to a supervisory board vote on May 21.
Management and labour leaders at Germany's Thyssenkrupp have agreed on a way forward after the industrial conglomerate announced a fresh restructuring drive that could lead to the loss of 6,000 jobs. Agreement was reached in talks between management and workers overnight on recognising the need for radical action, whilst ensuring fair treatment of employees at the Essen-based group, both sides said. CEO Guido Kerkhoff announced the overhaul on Friday, ditching plans to split the business into two and abandoning a European steel merger with India's Tata Steel.
Management and labor leaders at Germany's Thyssenkrupp have agreed on a way forward after the industrial conglomerate announced a fresh restructuring drive that could lead to the loss of 6,000 jobs. Agreement was reached in talks between management and workers overnight on recognizing the need for radical action, whilst ensuring fair treatment of employees at the Essen-based group, both sides said. CEO Guido Kerkhoff announced the overhaul on Friday, ditching plans to split the business into two and abandoning a European steel merger with India's Tata Steel.
Germany's Thyssenkrupp will embark on a fresh restructuring and list elevators, its most successful business, after regulatory opposition sunk plans to hive off its steel division, unravelling its previous break-up proposal. Under pressure from activist investors, Thyssenkrupp had tried to merge its steel unit with Tata Steel's European operations and split the rest of the conglomerate in two to highlight the value of its industrial businesses.
Thyssenkrupp shares leapt 20 percent on Friday as investors rushed to cover bearish bets after the conglomerate announced plans to list its best business, a move long hoped-for by investors. Thyssenkrupp is considering a carve-out or listing of its elevators business after abandoning plans to split itself up with a cross-shareholding structure and pulling the plug on a joint venture with Tata Steel. The shares rose as investors scrambled to cover large bearish bets, analysts and traders said.
BERLIN (Reuters) - Thyssenkrupp's decision to abandon plans to split into two was the right move, a top investor told Reuters on Friday. Ingo Speich, a fund manager at Deka - Thyssenkrupp's 11th largest ...
The shares surged the most on record after Chief Executive Officer Guido Kerkhoff said Friday that the new proposal could also lead to the elimination of as many as 6,000 jobs. Kerkhoff’s reversal comes just seven months after he told investors that dividing the company was the best way forward. “It is clear that Thyssenkrupp’s strategy of the past has failed," said Lars Forberg, founding partner of Sweden’s Cevian Capital AB, the second-biggest shareholder.
Alfried Krupp von Bohlen und Halbach Stiftung - Thyssenkrupp's biggest shareholder - said it had supported the company's management in its joint venture plans with India's Tata Steel and the planned split up. Thyssenkrupp on Friday abandoned plans to hive off its steel business and split up the rest of the conglomerate after a lengthy battle with activist investors and regulators, opting to list its elevators division instead. "The statements of the board show that the company is in a challenging situation," the foundation, which has 21% stake in Thyssenkrupp, said in a statement on Friday.
MUMBAI (Reuters) - India's Tata Steel Ltd said on Friday it will explore all options for its European steel business after its proposed joint venture with German steel giant ThyssenKrupp AG failed to secure ...
FRANKFURT, Germany (AP) — German steelmaker Thyssenkrupp said Friday it would cut some 6,000 jobs and restructure its businesses after saying that it expects European antitrust regulators to block plans for a joint venture with India's Tata Steel.