Worthington Steel Lowers Threshold for Kloeckner Offer

Worthington Steel has reduced the mandatory acceptance threshold for its voluntary takeover offer for Kloeckner & Co SE to 57.5%. Worthington reported securing approximately 56.9% of Kloeckner’s issued share capital as of March 9, 2026.

The acceptance period, originally set to expire March 12, 2026, will now expire March 26, 2026. Worthington Steel GmbH, its acquisition subsidiary, previously announced an intention to launch an all-cash offer at 11.00 per share for all outstanding Kloeckner shares on January 15, 2026. The offer remains subject to meeting the minimum acceptance threshold at the end of the acceptance period.