Mergers & Acquisitions ·
On September 8, 2026, Worthington Steel, Inc. announced that its subsidiary, Worthington Steel GmbH, entered into a…
WSWorthington Steel, Inc.
On September 8, 2026, Worthington Steel, Inc. announced that its subsidiary, Worthington Steel GmbH, entered into a Domination and Profit and Loss Transfer Agreement (DPLTA) with Klöckner & Co SE. This agreement follows the completion of a voluntary public takeover offer for Klöckner in June 2026 and its subsequent delisting from the Frankfurt Stock Exchange. The DPLTA grants Worthington Steel GmbH control over Klöckner's management, requiring profit transfers to the parent and loss absorption by the subsidiary. Outside shareholders may elect cash compensation of EUR 11.00 per share or an annual recurring payment of EUR 0.67 per share. Effectiveness is contingent on shareholder approval at a meeting expected on October 23, 2026, and registration in the German commercial register no earlier than January 1, 2027. Worthington Steel operates as a metals processor providing customized steel solutions.