Worthington Steel Acquires Majority Stake in Kloeckner & Co SE

By Chris Stiles • Wednesday, June 03 13:20 • Permanent Link

Worthington Steel said it has completed its voluntary takeover offer for Kloeckner & Co SE and has secured about 62% of Kloeckner’s outstanding shares.

The company also said it plans to launch a delisting tender offer for the remaining shares at €11.00 in cash per share. If completed, Kloeckner’s shares would no longer trade on a regulated market in Germany or on a comparable market abroad.

Kloeckner reported sales of about €6.4 billion in fiscal 2025 and has more than 6,000 employees, while Worthington Steel said it has about 6,000 employees of its own. Kloeckner operates around 110 warehouse and processing locations, mainly in North America and the DACH region, and serves more than 60,000 customers.

Worthington Steel said the acquisition is intended to broaden its product portfolio, diversify end-market exposure and strengthen its geographic footprint. It also said the combined company expects to gain scale and operational efficiencies over time. As a result of these announcements, the company's shares have moved -3.01% on the market, and are now trading at a price of $42.48. If you want to know more, read the company's complete 8-K report here.

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