en.Wedoany.com Reported - US metallurgical company Worthington Steel has completed its voluntary public takeover offer for German metal distributor and processor Klöckner & Co SE, with all transaction conditions satisfied. Worthington Steel has thus obtained approximately 62% of Klöckner's shares, becoming its majority shareholder.

Worthington Steel stated that this acquisition helps expand its product portfolio, diversify its end-market presence, and enhance its geographic coverage in Europe and North America. Klöckner & Co operates one of the largest steel distribution and metal processing networks in the industry across Europe and North America, providing Worthington Steel with extensive customer resources and a mature network of service-oriented metal processing centers.

Following the transaction, Worthington Steel plans to delist Klöckner from the stock market. For remaining shareholders, the company will offer a cash purchase price of €11 per share. The company believes that delisting can reduce administrative and regulatory costs while creating greater flexibility for implementing long-term development strategies.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com