---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-019521"
form_type: "8-K"
ticker: "WS"
cik: "0001968487"
company_name: "Worthington Steel, Inc."
filed_at: "2026-01-22T23:59:59+00:00"
generated_at: "2026-05-16T09:01:08.402451+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Worthington Steel enters into business combination agreement to acquire Klöckner & Co SE for €11.00 per share

## Summary
- Bidder Worthington Steel GmbH launched a voluntary public cash tender offer at €11.00 per Kloeckner share.
- SWOCTEM, holder of ~42% of Kloeckner shares, entered into irrevocable undertaking to accept the offer.
- Worthington Steel secured equity commitment of up to €1,632,000,000 and debt financing commitments of US$1.9 billion.
- Offer subject to regulatory clearances, minimum 65% acceptance threshold, and other conditions.
- Company amended its revolving credit facility to permit consummation of the offer.

## SEC filing metadata
- accession: 0001193125-26-019521
- form_type: 8-K
- ticker: WS
- cik: 0001968487
- company_name: Worthington Steel, Inc.
- filed_at: 2026-01-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1968487/000119312526019521/0001193125-26-019521-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1968487/000119312526019521/d97867d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-019521
- JSON: https://secwatch.observer/filing/0001193125-26-019521.json
- Plain text: https://secwatch.observer/filing/0001193125-26-019521.txt

## Key facts
- Material Agreements
  Worthington Steel, Inc. entered into BCA with Klöckner & Co SE valued at €11.00 for each Kloeckner Share (effective 2026-01-15).
  - Action: entry
  - Agreement: merger
  - Counterparty: Klöckner & Co SE
  - Value: €11.00 for each Kloeckner Share
  - Effective: 2026-01-15
  source text: On January 15, 2026, Worthington Steel, Inc., an Ohio corporation (the “ Company ” or “ Worthington Steel ”), and Worthington Steel GmbH, a limited liability company established under German law ( Gesellschaft mit beschränkter Haftung ) (“ Bidder ”), and Klöckner & Co SE, a European stock corporation ( societas europaea ) organized under the laws of Germany (“ Kloeckner ”), entered into a business combination agreement (the “ BCA ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1968487/000119312526019521/0001193125-26-019521-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.