Shareholders at Kloeckner & Co SE rejected the proposed domination and profit and loss transfer agreement (DPLTA) between Kloeckner and Worthington Steel GmbH. The vote prevents the transaction from becoming effective, halting plans for full integration under that specific legal structure. Worthington Steel retains its approximately 62% majority stake in Kloeckner and will continue to consolidate financial results. The company stated it remains committed to the strategic rationale of the combination but must now pursue opportunities within the existing governance framework. This outcome affects the timing and manner of realizing anticipated synergies, though management maintains conviction in the long-term value creation potential. Worthington Steel operates as a leading North American metals processing and manufacturing company.
