Tag: M&A

POSCO has reiterated its interest in expanding in the US market. The South Korean steelmaker also confirmed it remains in talks with Cleveland-Cliffs Inc.

Worthington Steel has exceeded the minimum share threshold for its acquisition of Kloeckner and Co.

Klockner & Co.'s North American business closed 2025 with its strongest fourth quarter on record, even as pricing and currency effects weighed on revenue. The update comes as Worthington Steel moves close to securing control of the German distributor through an ongoing public takeover bid.

Worthington Steel reduced its minimum acceptance threshold to 57.5% for its purchase of Kloeckner & Co.  

Reuters on Monday quoted Worthington Steel President and CEO Geoff Gilmore as saying the company has alternative targets if its deal to acquire Germany-based service center group Kloeckner & Co. doesn't happen.

BlueScope Steel has responded to Steel Dynamics Inc. and SGH’s “best and final” offer to take over the steel company. While not outright rejecting a takeover, BlueScope believes the offer is undervalued and remains open to talks.

Steel Dynamics Inc. and SGH Ltd have upped their bid to acquire BlueScope Steel.

Ryerson Holding Corp. and Olympic Steel Inc. announced they have completed their blockbuster merger, boosting Ryerson’s position as the second-largest service center in North America.

The deal is expected to close Friday, Feb. 13.

BlueScope’s new chief executive used her first public address to signal a faster, more aggressive phase for the steel company. She underscored the strength of its US operations and the rejection of a recent takeover proposal she said “materially undervalued” the business.

SMU interviews Worthington Steel CEO Geoff Gilmore about the recent Kloeckner & Co. buy.

Greer Steel Co. has been purchased by Mutares SE & Co., an international private equity holding company based in Munich.

BlueScope has rejected for the fourth time a takeover offer led by Steel Dynamics Inc., believing the offers to be significantly undervalued.

Australia's BlueScope Steel confirmed it has received a takeover bid from a two-party international consortium that includes Fort Wayne, Ind.-based Steel Dynamics Inc. (SDI).

The Mississauga, Ontario-based metals distributor is now the owner of Kloeckner's facilities in Dubuque, Iowa; Charlotte, N.C.; Suwanee, Ga.; Houston; Austin, Texas; Jacksonville, Fla.; and Pompano Beach, Fla.

Two bids remain for Italy’s shuttered ILVA steelworks, with one belonging to a company headed by steel veteran Alan Kestenbaum, according to a report in Bloomberg.

Triple-S Steel Holdings and a European partner have taken a major equity stake in Zimmer Staal, a steel distributor based at the Port of Antwerp in Belgium.

Worthington Steel is in talks to possibly take over German-based service center chain Klöckner & Co. SE, both companies have confirmed.

Lock Joint Tube has acquired the Tectron mechanical tube product line and associated manufacturing facility in De Pere, Wisc., from Atkore Inc.

Executives framed the all-stock deal as a path to scale, efficiency, and long-term growth despite ongoing weakness in the metals market.

Commercial Metals Co. (CMC) will acquire Newman, Ga.-based Foley Products Co. for $1.48 billion, making it the number three US precast concrete producer.

Canada's Nova Steel has fully acquired all of the assets of Ohio's Sheffield Steel Products.

Varsteel Ltd. announced two new strategic acquisitions. The Canadian service center stated that the acquisitions position it to meet a wider range of steel product needs.

Karla Lewis, president and CEO of Reliance Inc., told attendees of SMU’s Steel Summit 2025 that North America’s largest service center company is eyeing strategic opportunities in Mexico. 

Panelists laid out what they look for in mergers and acquisitions at SMU Steel Summit 2025 on Tuesday in Atlanta.

SunCoke Energy completed its previously announced $325-million acquisition of Phoenix Global on Friday, Aug. 1.

Independent galvanizer and coil coater AZZ Inc. has agreed to acquire Canton Galvanizing LLC.

Worthington Enterprises acquires HVAC products maker Elgen Manufacturing.

President Trump has approved the sale of U.S. Steel to Nippon Steel, according to an executive order signed on Friday, June 13. Both the Pittsburgh-based steelmaker and the Japanese steelmaker cheered the development.

The Ohio-based steel processor is now the majority owner of Italy's Sitem Group, which has six manufacturing sites across Italy, Switzerland, Slovakia, and France.