en.Wedoany.com Reported - The acquisition offer by the American company Worthington Steel for the German steel trader Klöckner & Co., based in Düsseldorf, has been successfully completed. This transaction marks a critical step for Worthington Steel in expanding its presence in the European market.

After the acceptance period ended on March 26, Worthington Steel has secured approximately 58.65 million shares of Klöckner. Klöckner announced this news, citing information from Worthington Steel. Together with its previously held shares and financial instruments, the American company now holds about 58.8% of Klöckner, surpassing the minimum acceptance threshold of 57.5%. Shareholders who did not accept the offer can still sell their shares at a price of 11 euros per share during a second acceptance period, which runs from April 1 to April 14.

Klöckner had already recommended its shareholders to accept the acquisition offer back in February. The supervisory board and management considered the offer price to be attractive, fair, and reasonable. According to the arrangement, Klöckner will continue to operate independently under the leadership of its current Chairman of the Board, Guido Kerkhoff. There are currently no plans for site closures or staff reductions. The transaction is valued at approximately 2.1 billion euros. Major shareholder Friedhelm Loh has sold his stake of about 41.5%. Worthington Steel's acquisition will strengthen its influence in the global steel trading sector.

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