Sweden's SSAB eyes Tata Steel's Europe business as Thyssenkrupp's back-up plan

摘要

Swedish steelmaker SSAB AB is eyeing Tata Steel’s European assets as a back-up plan to a deal with Thyssenkrupp AG amid industry consolidation, said a news report by Bloomberg on Friday. “SSAB is holding preliminary talks with Tata Steel of India as it seeks merger options,” the report said quoting persons familiar with the matter. The Swedish company, which has a market value of around $3.2 billion, would gain control of Tata Steel’s European business if they pursued such a deal, the report said.