Klöckner & Co SE Supports Worthington Steel's Amended Takeover Offer

On March 13, 2026, Klöckner & Co SE's Management and Supervisory Boards reiterated their endorsement of Worthington Steel's revised takeover bid. Worthington Steel GmbH, a subsidiary of Worthington Steel, Inc., has decreased the minimum acceptance threshold from 65% to 57.5% of Klöckner & Co shares, prompting the boards' continued support of the offer, believing it enhances the likelihood of successful completion.

The acceptance period for shareholders has been extended to March 26, 2026, allowing for additional consideration due to this amendment. Despite the reduced threshold, all other conditions of the offer remain unchanged. Management encourages shareholders to review all related documents thoroughly before making decisions regarding the offer.

This amendment signifies a strategic alignment, aimed at ensuring a smoother transaction process under the updated terms, reflecting Klöckner & Co's commitment to its stakeholders.