Worthington Steel Adjusts Takeover Terms for Kloeckner & Co

Worthington Steel GmbH has announced a reduction in the minimum acceptance threshold for its voluntary takeover offer for Kloeckner & Co SE to 57.5%. This decision comes as the company secured around 56.9% of Kloeckner's share capital by March 9, 2026. The deadline for the acceptance period has been extended to March 26, 2026, from the original closing date of March 12, 2026.

The offer remains unchanged at an all-cash price of €11.00 per share, reflecting a significant 98% premium over Kloeckner's three-month volume-weighted average share price as of December 5, 2025. Both Worthington and Kloeckner's boards regard the offer as attractive, urging shareholders to accept the terms.

Information regarding the offer, including the offer document and amendment, is accessible on Worthington's official website. The transaction is subject to German and U.S. legal regulations, but Worthington Steel will not alter the offer price further.