Worthington Steel Completes Kloeckner Acquisition, Plans Delisting Tender Offer
WS sits 78% above its 52-week low of $24.225.
Summary
Worthington Steel has completed its acquisition of German metals trader Kloeckner & Co SE, securing a majority stake, and announced its intention to launch a delisting tender offer for the remaining shares at €11.00 each.
Key Events · M&A and Partnerships · WS
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Kloeckner Acquisition Completed
Worthington Steel, Inc. officially completed its voluntary public cash takeover offer for Klöckner & Co SE on June 3, 2026, following months of strategic maneuvers and financing efforts.
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Majority Stake Secured
The company now holds 60,710,791 Klöckner Shares, representing approximately 60.86% of Klöckner's total outstanding share capital, with tendered shares valued at €576.3 million.
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Delisting Tender Offer Planned
Worthington Steel intends to launch a Public Delisting Tender Offer for all remaining Klöckner shares at €11.00 per share, aiming to reduce administrative burdens and gain greater operational flexibility.
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Path to Full Integration
The company plans to enter into a Domination and Profit and Loss Transfer Agreement (DPLTA) with Klöckner, which would provide full control over Klöckner's management and obligate profit transfer, in exchange for compensating minority shareholders.
Analysis · WS · Manufacturing
This filing marks the successful completion of Worthington Steel's strategic acquisition of German metals trader Kloeckner & Co SE, a major milestone that significantly expands its global footprint and product portfolio. The company has secured a majority stake and, importantly, announced its intention to fully integrate Kloeckner by launching a delisting tender offer for the remaining shares. This move, if successful, will grant Worthington Steel full operational control and profit transfer rights through a Domination and Profit and Loss Transfer Agreement (DPLTA), streamlining future operations but also requiring compensation for Kloeckner's minority shareholders.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 44% of the 562 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.52%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WS was trading at $43.00 on NYSE in the Manufacturing sector, with a market capitalization of approximately $2.2B. The 52-week trading range was $24.23 to $49.17. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.