Overview
- Klöckner & Co said it is in negotiations with Worthington Steel over a possible voluntary public offer for all shares, confirming that Worthington is reviewing its books.
- The companies stated it remains open whether an offer will be made or under what conditions.
- Klöckner shares jumped more than 25% to an intraday high of €7.90, valuing the SDax group at about €730 million versus roughly €1.6 billion for Worthington.
- An analyst highlighted that the stance of major shareholder Friedhelm Loh, who controls 41.5% via Swoctem, could be decisive for any deal.
- The 1906‑founded steel trader, now based in Düsseldorf, reported €6.6 billion in 2024 revenue and about 6,600 employees, with roughly 60% of sales in the U.S. and recent nine‑month net losses narrowing to €38 million.