Salzgitter Ends Talks With GP, TSR Consortium on Takeover Offer

German steelmaker Salzgitter AG ended talks with a consortium of GP Günter Papenburg AG and TSR Recycling GmbH & Co. regarding a potential takeover offer.

“The decision was made based on significantly differing views on the current and future value of Salzgitter,” the company said Friday in a statement.

The firm is making various “strategic adjustments” to cut costs and said its performance program now targets €500 million in savings.

Read More: GP, TSR Boost Bid for Steelmaker Salzgitter to €1.1 Billion

The consortium boosted its bid for Salzgitter in late January that could value for the German steelmaker ...