Finnish stainless steel company Outokumpu (OMX:OUT1V) confirms ongoing preliminary discussions with ThyssenKrupp for strategic options, including potential joining of ThyssenGroup’s stainless steel unit Inoxum (the former Stainless Global into which ThyssenKrupp Stainless AG was incorporated) and Outokumpu after the news had become public. ThyssenGroup is reporting Inoxum as a discontinuing operation and wants to carve it out either via IPO, spin-off or sale.
Outokumpu said that negotiations are ongoing and no assurances can be given on what their result might be. The company will announce further news when appropriate. Outokumpu popped more than 10% at market open.
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