Acquisition US Corporation Wants to Buy Steel Trader Klöckner & Co

Source: Press release | Translated by AI 2 min Reading Time

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Klöckner & Co SE and Worthington Steel GmbH signed a merger agreement on January 15, 2026. The implied total enterprise value of the transaction amounts to approximately 2.4 billion US dollars.

Klöckner has a long history and thousands of employees. Now the Düsseldorf-based company is likely to be taken over by a US corporation.(Image: Klöckner & Co SE)
Klöckner has a long history and thousands of employees. Now the Düsseldorf-based company is likely to be taken over by a US corporation.
(Image: Klöckner & Co SE)

In this context, Worthington Steel has announced a voluntary public takeover offer for all outstanding shares of Klöckner & Co SE. The complementary alignment of both companies provides the basis for sustainable growth and expands their presence in Europe and North America. Together, they would be one of the leading service center and metal processing companies in North America and Europe.

The merger with Worthington Steel would mark a decisive step in focusing on higher-value products and services. Together, we create the basis for sustainable growth, expand our respective presences, and offer our customers an even broader product portfolio. Worthington Steel is the ideal partner to secure our success and competitiveness in the long term.

Guido Kerkhoff, CEO Klöckner & Co SE

The agreed offer price is 12.7 US dollars  per Klöckner share in cash. This represents a premium of approximately 81 percent over the closing price of Klöckner & Co on December 5, 2025, the last day before the negotiations were publicly disclosed, and approximately 98 percent based on the unaffected volume-weighted 3-month average price of the Klöckner share up to December 5, 2025.

The implied total enterprise value of the transaction amounts to approximately 2.4 billion US dollars (2.1 billion euros). The Management Board and Supervisory Board of Klöckner & Co welcome the offer and, subject to the review of the offer document, intend to recommend shareholders to accept the offer as part of their reasoned statement. In the opinion of the boards, the offer reflects the intrinsic value of the Klöckner share and includes an attractive premium. The boards of Klöckner & Co also welcome the strategic benefits of the merger and the added value it will create for all stakeholders.

Worthington Steel has informed Klöckner & Co that Swoctem GmbH has committed itself to Worthington Steel with an irrevocable acceptance undertaking to tender its entire stake of approximately 41.53 percent in Klöckner & Co into the takeover offer. The members of the Management Board of Klöckner & Co have also confirmed that they will tender all shares held by them into the offer.

Klöckner & Co brings an impressive market presence in Europe and North America, an innovative product portfolio, and long-term customer relationships. These strengths complement our own profile in an ideal way. Together, we are able to sustainably expand our offerings and accelerate our growth strategy.

Geoff G. Gilmore, CEO Worthington Steel

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