on Klöckner & Co. SE (ETR:KCO)
Worthington Steel Plans Agreement with Klöckner & Co SE
Worthington Steel GmbH, a subsidiary of Worthington Steel, Inc., has announced its intention to enter into a domination and profit and loss transfer agreement with Klöckner & Co SE. This would position Worthington Steel GmbH as the controlling entity, with Klöckner & Co SE as the controlled entity. Dividend and compensation for Klöckner's minority shareholders will follow statutory guidelines and require a company valuation.
The agreement hinges on the approval of Klöckner & Co's general meeting. Worthington Steel GmbH had previously launched a voluntary public takeover offer at EUR 11.00 per share. By late March 2026, Worthington Steel GmbH had amassed commitments equating to 49.44% of Klöckner's share capital, with expectations to reach 58.78%. This shareholding is anticipated to secure the required majority for the agreement's approval.
R. E.
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