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    May 28, 2026

    Worthington says all regulatory conditions cleared for Kloeckner buy

    Written by Ethan Bernard

    All regulatory conditions for Worthington Steel’s acquisition of Germany-based service group Kloeckner have been met, a spokeswoman told SMU on Wednesday.

    “We look forward to closing on the transaction soon and will release additional information at that time,” the spokeswoman for the Columbus, Ohio-based service center group added.

    On Wednesday, European derivatives exchange Eurex said Worthington Steel GmbH, a Worthington subsidiary, announced “the fulfilment of all offer conditions and the settlement of the takeover offer to the Kloeckner & Co SE shareholders.”

    SMU reported on Tuesday that another Worthington Steel subsidiary, WS Escrow LLC, plans to raise $900 million through a senior secured notes offering to raise funds for the Kloeckner buy.

    Worthington confirmed in December that it was in talks to acquire metal distributor Kloeckner. The companies signed a formal agreement in January. At the end of March, Worthington said it had exceeded the share threshold for the deal.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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