on Worthington Steel GmbH
Worthington Steel Launches Cash Tender Offer for Kloeckner & Co SE
Worthington Steel GmbH has commenced the acceptance period for a cash tender offer to Kloeckner & Co SE shareholders. Approved by BaFin, the offer is €11.00 per share, representing a 98% premium to Kloeckner's three-month volume-weighted average share price as of December 5, 2025. This period starts today and ends on March 12, 2026.
The boards of Kloeckner & Co have expressed support for the offer, subject to reviewing the offer document. SWOCTEM GmbH, Kloeckner & Co’s largest shareholder, has committed to participate, showcasing significant backing for the bid.
The tender offer, part of a Business Combination Agreement, also allows for a potential dividend of up to €0.20 per share for the 2025 financial year, contingent on legal and shareholder approvals. The offer requires a minimum 65% acceptance threshold and other customary conditions.
R. E.
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