German industrial group Thyssenkrupp is in talks to buy metals distributor Kloec...
) in a move to strengthen its materials trading business, Handelsblatt reported on Thursday citing sources familiar with the matter.
“This objective is very concrete and has a good chance of being realized,” one source familiar with the matter told Handelsblatt. Thyssenkrupp declined comment while no comment was immediately available from Kloeckner & Co. “Thyssenkrupp has its hands full finding a buyer for its elevator division. Buying Kloeckner is not going to fix its problems,” one of the people said.
One of the sources said an outright takeover of Kloeckner by Thyssenkrupp was unlikely, adding that if both were to agree on a deal at some point it could take place via a swap, under which Kloeckner would take a minority stake in the combined business.
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