Company Announcements
July 15, 2026
Worthington declares opening of delisting offer period for Kloeckner shares
Written by Ethan Bernard
Worthington Steel has opened the acceptance period for its public delisting tender offer for all outstanding Kloeckner & Co. SE shares.
This includes all shares not already held by Worthington, it said in a statement on Wednesday. Recall that the company closed on its acquisition of the Düsseldorf, Germany-based service center group in early June.
German financial authorities have approved the delisting offer. And it has been published in accordance with the German Securities Acquisition and Takeover Act.
Starting on Wednesday, Kloeckner shareholders can accept the delisting offer by tendering their shares for €11.00 per Kloeckner share, cash.
The Columbus, Ohio-based service center group said the acceptance period runs from July 15 to Aug. 12, 2026.
Worthington noted it currently holds ~62% of Kloeckner’s outstanding shares following the completion of its voluntary public takeover offer on June 3.
Additionally, Worthington said the delisting offer is not subject to any closing conditions and does not include a minimum acceptance threshold.
Following the end of the delisting, Kloeckner shares will no longer be admitted to trading on a regulated market in Germany or on a comparable market abroad. This could lead to “significantly reduced liquidity and limited price discovery for Kloeckner shares,” Worthington said.
Background
Last December, Worthington said it was in talks to acquire 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, which was 57.5%. The deal closed in June.
