Thyssenkrupp, Kloeckner in talks over co-operation in materials trading: sources [Reuters]
THYSSENKRUPP AG S/ADR (TKAMY)
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Source: Reuters
Thyssenkrupp, Kloeckner in talks over co-operation in materials trading: sources FRANKFURT (Reuters) - Thyssenkrupp ( TKAG.DE KCOGn.DE The chief executives of both companies have been talking regularly for months, the people said, adding that discussions are open-ended and may not produce any concrete results. Shares in Kloeckner & Co soared 14.2% on Friday, boosted by a report in German business daily Handelsblatt that cash-strapped Thyssenkrupp is in talks to buy the group, raising its market capitalization to 552 million euros ($611 million). Thyssenkrupp shares were up 2%. The three sources said a takeover of Kloeckner & Co, which would have to be made public under German capital market regulation, was currently not in the works. Thyssenkrupp and Kloeckner & Co declined to comment. One of the sources said while an outright takeover of Kloeckner by Thyssenkrupp was unlikely, if both were to agree on a deal at some point it could take place via a swap, under which Kloeckner would t
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