Stronger Together
A New Milestone
Serving Our Customers
Worthington Steel has currently secured approximately 62% of Kloeckner's outstanding shares.
Completion of the Takeover Offer establishes the foundation for a strong strategic partnership between Worthington Steel and Kloeckner. Worthington Steel expects the transaction to broaden its portfolio, diversify end-market exposure and strengthen its geographic footprint.
Worthington Steel intends to launch a Public Delisting Offer for all outstanding Kloeckner shares not already held by Worthington Steel. The company expects to offer remaining Kloeckner shareholders EUR 11.00 in cash per Kloeckner share.
Over time, the combined company anticipates it will benefit from increased scale, operational efficiencies and the sharing of best practices across both organizations.
Geoff Gilmore, Worthington Steel President & CEO
This is an important milestone for Worthington Steel and a meaningful step forward in our growth strategy. Kloeckner brings strong capabilities, a talented team and a shared commitment to performance. We are excited about what we can build together over time and will continue to take a disciplined approach as we move toward integration - stronger together.”
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Strengthening Our Reach
The acquisition is expected to strengthen Worthington Steel’s offerings in key product categories and regions while expanding its reach across North America and Europe.
Together, Worthington Steel and Kloeckner & Co intend to build on their shared focus on safety, quality and continuous improvement, with added scale and efficiencies that support long-term growth.