Worthington Steel, Inc. (WS): M&A transaction — Worthington Steel completes €576M acquisition of Kloeckner & Co, secures ~62% stake

Worthington Steel, Inc.

Completed voluntary takeover of Kloeckner on June 3, 2026; holds ~62% of outstanding shares.
Total aggregate consideration for tendered shares was €576,284,588 (~52.4M shares at €11.00 each).
Intends to launch a public delisting tender offer at €11.00 per share for remaining Kloeckner shares.
Plans to negotiate a Domination and Profit and Loss Transfer Agreement (DPLTA) to gain control.
Used proceeds from notes offering, term loan, and cash on hand to fund the acquisition.

item 2.01 item 7.01 item 9.01

Featured in Daily 8-K Digest

Selected #3 for 2026-06-03. Read digest

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Worthington Steel, Inc. completed an acquisition involving Klöckner & Co SE for €11.00 per Klöckner Share (closed 2026-06-03).

Action: acquisition
Counterparty: Klöckner & Co SE
Consideration: €11.00 per Klöckner Share
Closing: 2026-06-03

Exact text from the filing

public cash takeover offer to all shareholders of Klöckner to tender each issued and outstanding share of Klöckner (the “ Klöckner Shares ”) to BidCo at a cash consideration of €11.00 per Klöckner Share (such offer, as amended, the “ Offer ,” and the transactions contemplated thereby, the “ Klöckner Acquisition ”). On June 3, 2026 (the “ Settlement Date ”), the

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Worthington Steel, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-254547

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