Worthington Steel Acquires Kloeckner & Co., Intends to Launch Delisting Tender Offer
06/04/2026 - Worthington Steel Inc. announced it has successfully acquired Kloeckner & Co SE, securing about 62% of its outstanding shares and intending to launch a public delisting offer for the remaining shares.
“Kloeckner brings strong capabilities, a talented team and a shared commitment to performance. We are excited about what we can build together over time and will continue to take a disciplined approach as we move toward integration — stronger together,” said Geoff Gilmore, president and chief executive officer of Worthington Steel.
Worthington Steel said the acquisition will expand its product portfolio, diversify end-market exposure and strengthen its geographic footprint.
“This is the outcome of a deliberate strategic journey: focusing our business on higher-value products and services, building scale in North America and Europe, and finding in Worthington Steel a partner that shares our vision,” said Guido Kerkhoff, chief executive officer of Kloeckner & Co.
Worthington Steel expressed its intension to acquire the remaining shares of Kloeckner & Co. by launching a public delisting tender offer. They expect to offer about EUR11.00 in cash per share to the shareholders. If effective, Kloeckner & Co. shares will no longer be offered on the market in Germany or abroad.
Worthington Steel said the acquisition will expand its product portfolio, diversify end-market exposure and strengthen its geographic footprint.
“This is the outcome of a deliberate strategic journey: focusing our business on higher-value products and services, building scale in North America and Europe, and finding in Worthington Steel a partner that shares our vision,” said Guido Kerkhoff, chief executive officer of Kloeckner & Co.
Worthington Steel expressed its intension to acquire the remaining shares of Kloeckner & Co. by launching a public delisting tender offer. They expect to offer about EUR11.00 in cash per share to the shareholders. If effective, Kloeckner & Co. shares will no longer be offered on the market in Germany or abroad.
