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ThyssenKrupp AG Add to portfolio

DAXX:TKA, Sep 26, 09:42 UTC

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Thursday, September 20


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Elliott says does not want Thyssenkrupp breakup -Manager Magazin

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Elliott says does not want Thyssenkrupp breakup -Manager Magazin. ReutersSeptember 20, 2018, 11:13 AM GMT. FRANKFURT, Sept 20 (Reuters) - Activist fund Elliott, which disclosed a stake of less than 3 percent in Thyssenkrupp in May, is not in favour of breaking up the submarines-to-elevator conglomerate, one of its executives told a German monthly magazine. "We do not want Thyssenkrupp to be dismantled. That would mean giving away value potential for free," Franck Tuil, senior portfolio manager at the fund, was quoted as saying by manager magazin on Thursday. (Reporting by Christoph Steitz Editing by Maria Sheahan). What to read next.

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Thyssenkrupp to keep on implementing steel JV with Tata: CEO

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(Reuters) - Thyssenkrupp's interim chief executive dismissed speculation that it would pull out of its steel joint venture with India's Tata Steel in the wake of management upheaval at the German industrial conglomerate. Last week, media reports said the implementation of the landmark deal, signed in late June, was stalling over the sudden departure of Thyssenkrupp's CEO Heinrich Hiesinger, the main architect of the transaction. The deal will create Europe's second-largest steelmaker after ArcelorMittal and is expected to close at the end of this year or in early 2019, giving Thyssenkrupp a way to cut capacity in the volatile steel market. Ingo Speich, fund manager at Thyssenkrupp shareholder Union Investment, said that Kerkhoff could also serve as chief operating officer alongside a new CEO.

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Thyssenkrupp to keep on implementing steel JV with Tata: CEO

TKA

(Reuters) - Thyssenkrupp's interim chief executive dismissed speculation that it would pull out of its steel joint venture with India's Tata Steel in the wake of management upheaval at the German industrial conglomerate. Last week, media reports said the implementation of the landmark deal, signed in late June, was stalling over the sudden departure of Thyssenkrupp's CEO Heinrich Hiesinger, the main architect of the transaction. The deal will create Europe's second-largest steelmaker after ArcelorMittal and is expected to close at the end of this year or in early 2019, giving Thyssenkrupp a way to cut capacity in the volatile steel market. Ingo Speich, fund manager at Thyssenkrupp shareholder Union Investment, said that Kerkhoff could also serve as chief operating officer alongside a new CEO.

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Tuesday, September 18


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Danske Bank issues structured notes linked to ThyssenKrupp AG

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On 20 September 2018, Danske Bank will issue EUR 2,751,000 in equity-linked notes linked to the performance of the equity value of Novo Nordisk A/S. The notes pay interest at 2.88 % quarterly, subject to the performance of the underlying equity. The notes are issued under Danske Bank’s EUR 5,000,000,000 Structured Note Programme dated 19 June 2018. Danske Bank will file an application for the notes to be listed on NASDAQ Copenhagen A/S from 20 June 2018. For further information about the notes, please see the Final Terms attached to this announcement which together with the Base Prospectus specify the terms and conditions of the notes.

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Danske Bank issues structured notes linked to Novo Nordisk A/S

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Danske Bank issues structured notes linked to Novo Nordisk A/S. On 20 September 2018, Danske Bank will issue EUR 1,596,000 in equity-linked notes linked to the performance of the equity value of Novo Nordisk A/S. The notes are issued under Danske Bank’s EUR 5,000,000,000 Structured Note Programme dated 19 June 2018. Danske Bank will file an application for the notes to be listed on NASDAQ Copenhagen A/S from 20 June 2018. For further information about the notes, please see the Final Terms attached to this announcement which together with the Base Prospectus specify the terms and conditions of the notes.

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Thyssenkrupp overhaul must protect worker interests: labour boss

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DUESSELDORF, Germany (Reuters) - Thyssenkrupp <TKAG.DE> employees will not block a restructuring of the group as long as their interests are protected, its newly elected works council chief said. The 47-year-old succeeds Wilhelm Segerath, who is stepping down after nearly seven years on grounds of age, and will also take over his seat on Thyssenkrupp's 20-member supervisory board, half of which is controlled by worker representatives. "Capital has to come from somewhere. If an investor accepts that workers and society do have justified interests then I don't have a problem with that. But I'm opposed to investors that do not understand social market economy." In May, U.S. fund Elliott disclosed it had taken a stake of less than 3 percent in Thyssenkrupp, stoking fears of a break-up among its nearly 160,000 workers, but Sievers said those fears were overblown.

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Monday, September 17


News

Thyssenkrupp Elevator CEO on Industry Consolidation, Production

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Thyssenkrupp Elevator CEO on Industry Consolidation, Production. Bloomberg UK17 September 2018, 08:03 GMT. Sep.17 -- Thyssenkrupp Elevator Chief Executive Officer Andreas Schierenbeck discusses prospects for industry consolidation in an interview on "Bloomberg Markets: European Open." What to read next.

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Friday, September 14


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Thyssenkrupp reorganises industrials unit as problems mount

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FRANKFURT (Reuters) - Thyssenkrupp <TKAG.DE> is to separate its shipbuilding business from its struggling industrials division in a restructuring that could decide the fate of interim Chief Executive Guido Kerkhoff. The move allows the group to focus on turning around the division's plant construction business under new management, and potentially clears the way for a sale of the shipbuilding unit. Kerkhoff, who took over until a permanent replacement is found for ex-CEO Heinrich Hiesinger, joined in 2011 and is seen by some investors as part of an 'old guard' that failed to turn around the conglomerate fast enough. Sources told Reuters this week that the restructuring at Industrial Solutions could help Kerkhoff to mark himself out as a strong contender to keep the job. The division triggered a profit warning in July, hurt by cost overruns at projects in Turkey, Saudi Arabia and Australia and adding yet another item Thyssenkrupp's list of problems, which also include a vacant chairman position. As part of the overhaul, the group's marine unit, which builds battleships and submarines, will be spun off from Industrial Solutions and managed directly by Thyssenkrupp AG from Oct. 1, leaving the division to focus on factory engineering.

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Monday, September 10


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Thyssenkrupp Said to Mull Leadership Changes at Industrial Unit

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Thyssenkrupp AG has discussed changing the leadership of its industrial services division in an effort to turn around the unprofitable business at the heart of the this year’s crisis, according to people familiar with the matter. No decision has been made and it’s possible that Thyssenkrupp’s executives will opt to not make any changes, said the people, who asked not to be identified discussing personnel matters. The talks show that Thyssenkrupp is wrestling with how to change direction at industrial services, which builds a wide range of products from submarines to cement factories and car assembly lines.

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Friday, August 31


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Thyssenkrupp chairman candidates decline job - source

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FRANKFURT (Reuters) - A number of candidates to be chairman of Thyssenkrupp <TKAG.DE> have declined to take the job, a person familiar with the matter said on Friday, leaving the steelmaker facing a delay in filling a leadership vacuum. An agreement with former Deutsche Bank <DBKGn.DE> deputy Chief Executive Marcus Schenck and former Bayer <BAYGn.DE> CEO Marijn Dekkers could not be reached, the person said. Thyssenkrupp has been in a leadership vacuum since both its CEO Heinrich Hiesinger and Chairman Ulrich Lehner resigned last month. Preparatory steps for the CEO search are already underway, the person said. Sources told Reuters earlier this month that Airbus <AIR.PA> CEO Tom Enders, who will step down next year, also declined the job.

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