Letter to Thyssenkrupp Financial Investor Complains "Malicious" Claims
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ThyssenKrupp Chief Supervisor Ulrich Lehner: The US billionaire speculative fund Paul Singer seeks clarification from group
Source: dpa
ThyssenKrupp's supervisory board director Ulrich Lehner has strongly attacked financial investor Elliott. The hedge fund requires the group to stand out. Meanwhile, the federal government is worried for the company.
P sychoterror, untruths, harbadment – Ulrich Lehner recently spent a hefty sum of money against financial investors, among others at ThyssenKrupp. In an interview with "Zeit", the president of the Dax group, who leaves the end of the month, brutally attacks "individual investors" and accuses them of using more brutal and unfair methods to defend their interests – in the case of ThyssenKrupp.
Although Lehner does not name any names. "Any reasonable reader of the interview, however, concludes that he accuses Elliott of such behavior," he says now in a letter from the speculative fund of American billionaire Paul Singer, the WELT exists.
"We want to clarify that all of these allegations are categorically false and defamatory.As Professor Lehner can not have any evidence of such allegations, we badume that he made the allegations malicious or at least ruthless." [19659015] Read also
Elliott apparently does not want to remain in a doubtful position. As a result, the shareholder is now asking for a clarification from ThyssenKrupp. "We think it is appropriate for the company and the supervisory board to distance themselves from Professor Lehner's defamatory statements by publicly stating that the company does not share them and does not consider them truthful," writes the letter. Elliott [19659013] In addition, the company should ensure that even Lehner himself withdraws his statements publicly and does not repeat. That to happen, however, seems debatable. ThyssenKrupp will not respond to the letter on request. And according to the insiders, no reaction is expected against Elliott
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Unhappy Shareholders
Elliott announced his investment in ThyssenKrupp in May and shortly afterwards demanded the replacement of the then CEO, Heinrich Hiesinger. Meanwhile, the 57-year-old man resigned in the conflict over the direction and strategy of the Ruhr Group, and ThyssenKrupp in the episode of an existential crisis
Especially after the retirement of Hiesinger, chairman of the supervisory board Lehner, both with reference to the lack of trust in the shareholders, especially with Alfried Krupp von Bohlen and the Halbach Foundation, the largest shareholder of the company, who act in does it as an anchor of stability – and should ensure the unity of the company. This is at least what the foundation's charter, founded fifty years ago, says.
Turbulence calls the German government to the scene. "We are monitoring the situation of ThyssenKrupp intensively and with growing concern," said Federal Labor Minister Hubertus Heil (SPD). The company has taken important steps to preserve it as an integrated group, laying the foundation for a prosperous future. "This path must not be endangered," warned Heil. "All parties involved should work together to strengthen ThyssenKrupp as an important group of German localization and thus secure jobs."
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After the resignation of Hiesinger
Similar announcements were also made by the Ministry of Economic Affairs of the CDU. "The federal government is committed to maintaining ThyssenKrupp as an integrated industrial group," said a spokeswoman.
Elliott denied ever claiming a breakup. This is also indicated in the letter to the Supervisory Board, which does not, however, bear a personal signature. "Nevertheless, the company should continue to consider any structural development if this is in the interest of all stakeholders, such as the steel joint venture."
Elliot and Cevian Capital did not talk about crushing
The word smash thus becomes effectively avoided, the goal but only described otherwise. Similarly, Cevian Capital, ThyssenKrupp's second shareholder with around 18% of the shares, does the same. Meanwhile, Lars Förberg has also formulated its objectives semantically modified: "To succeed in the future, the divisions of ThyssenKrupp must be focused, enterprising and effective."
Who will be responsible for implementing the will of the owner in the future? Hiesingers is, stay open. All participants guarantee the confidence of the CFO and Interim General Manager Guido Kerkhoff, including financial investors and therefore opponents to the Group's previous strategy of uniting with various industry sectors such as elevators, building construction, and building and construction. factories, shipyards and auto parts. "However, this interim period must be short so that ThyssenKrupp can quickly return to its trajectory of growth and growth," writes Elliott in his letter to the supervisory board.
