TK in talks with Steel Americas bidder

Aug 13, 2013 | 06:37 PM | Catherine Ngai

Tags  Steel Americas, ThyssenKrupp, flat-rolled, Heinrich Hiesinger, Catherine Ngai

NEW YORK — ThyssenKrupp AG is in "advanced" negotiations with a leading bidder for its Steel Americas unit, the steelmaker’s top executive said Aug. 13 as the company logged another quarter in the red due to sluggish economic growth and a subdued steel market.

"As we have clearly stated, we’re not just talking to one guy. We’re entertaining discussions with a number of parties as well," chairman and chief executive officer Heinrich Hiesinger said during the company’s fiscal third-quarter earnings conference call. "What’s clearly important for us is that we keep track of the interest of the company ... and diligence in this project and not do a fire sale. We’ve always said we’re not in a fire sale."....

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