Worthington Steel Opens EUR 11.00 Delisting Tender Offer for Remaining Kloeckner Shares
WS sits 25% above its 52-week low of $27.22.
Summary
Worthington Steel has launched a public delisting tender offer for the remaining 38% of Kloeckner shares at EUR 11.00 per share, with the acceptance period running from July 15 to August 12, 2026.
Key Events · M&A and Partnerships · WS
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Delisting Tender Offer Launched
A public delisting tender offer has been commenced for all outstanding Kloeckner shares not already held, with a cash consideration of EUR 11.00 per share.
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Acceptance Period Set
The acceptance period runs from July 15, 2026 to August 12, 2026, with no minimum acceptance threshold and no closing conditions.
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Current Ownership at 62%
Following the June 3, 2026 voluntary takeover offer, Worthington Steel holds approximately 62% of Kloeckner's outstanding shares.
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Delisting to Follow
After the offer, Kloeckner shares will be delisted from the Frankfurt Stock Exchange, reducing liquidity and regulatory obligations.
Analysis · WS · Manufacturing
In a move to consolidate full control, Worthington Steel is launching a public delisting tender offer for the 38% of Kloeckner it does not yet own. The all-cash bid of EUR 11.00 per share provides minority holders a clean exit before the stock is removed from the Frankfurt exchange. This follows the June 3 acquisition of a 62% stake and represents the final step toward simplifying the corporate structure while eliminating the costs tied to maintaining a public listing for the subsidiary. The offer carries no conditions and remains open through August 12, 2026.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 35.8% of the 1051 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. 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 $33.94 on NYSE in the Manufacturing sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $27.22 to $49.17. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.