Gdansk — German naval company Gabler Group on Monday said it sought to raise €40m in an initial public offering on the Frankfurt stock exchange to strengthen its balance sheet, accelerate organic growth and execute minor acquisitions.
The defence industry supplier said its 100% shareholder, Possehl Group, is also expected to sell shares.
The company is expected to list its shares on the exchange in early March 2026. Reuters
BlueScope Steel upbeat on second-half earnings
Bengaluru — Australian takeover target BlueScope Steel forecast on Monday higher second-half earnings and reported first-half profit above estimates, helped by stronger US spreads, higher volumes across key markets and good cost control.
The steelmaker expects second-half underlying earnings before interest and taxes (ebit) to be A$620m-A$700m ($437.7m-$494.2m).
For the six months ended December 31, BlueScope posted underlying ebit of A$557.5m and underlying net profit after tax of A$382m, more than double last year’s A$176.4m and above a Visible Alpha estimate of A$349.2m. Reuters
Beazley sets date for Zurich to make a firm offer
Bengaluru — UK speciality insurer Beazley said on Monday Zurich Insurance now has until March 4 to either announce a firm offer to acquire the company or walk away.
Earlier in February, Beazley agreed to recommend a sweetened £8bn takeover by Zurich if a firm offer was made. Reuters
Volkswagen targets 20% cost cuts by 2028
Gdansk — Volkswagen plans to cut costs by 20% across all brands by the end of 2028, Manager Magazin reported on Monday.
According to information obtained by the magazine, CEO Oliver Blume and CFO Arno Antlitz have presented a “massive” savings plan at a closed-door meeting with the company’s top executives in Berlin in mid-January.
The group’s cost-cutting initiative is aimed at ensuring returns go back to a sustainable level amid a slump in China, US tariffs and a competitive environment, the magazine said.
Where exactly the savings are to be made and where co-operation between the brands is to be improved remained unclear at the meeting, the magazine said, but plant closures could also be on the table.
Volkswagen did not immediately reply to an emailed request for comment. Reuters
Australia’s Qube Holdings accepts buyout offer
Sydney — Shares of Australia’s Qube Holdings shot to a record high on Monday after it agreed to an A$11.7bn ($8.26bn) buyout offer from a consortium led by Macquarie Asset Management (MAM) to take the logistics firm private.
Qube shares jumped as much as 4.1% in early trading to an all-time high of A$5.05. The stock remained below the consortium’s A$5.20 per share offer.
The agreement follows months of talks after a MAM-led consortium made a non-binding offer in November for Qube, which gave the company an enterprise value of A$11.6bn. Qube owns ports, intermodal terminals and bulk handling facilities across Australia. Reuters
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