Equities

Reuters reveals Thyssenkrupp mulling separation of major businesses; market reacts

Reuters reveals Thyssenkrupp mulling separation of major businesses; market reacts

Shares of Thyssenkrupp jumped 9 percent after Reuters was first to report that the German engineering conglomerate was considering a breakup of its business. The company confirmed its intentions in a regulatory filing two hours later which pushed the stock up by 17 percent. Thyssenkrupp has been in leadership turmoil ever since the company’s chief executive and chairman quit following disagreements with large shareholders over strategy. In mid-September, Reuters flagged that interim Chief Executive Guido Kerkhoff had a realistic shot at keeping the top job if he pursued deeper restructuring, helping Reuters clients to stay at the forefront of the debate surrounding one of Europe’s largest industrial conglomerates.