Worthington Steel lowers Kloeckner offer threshold to 57.5%, extends acceptance period
Worthington Steel GmbH, a wholly owned indirect subsidiary of Worthington Steel, amended its voluntary cash takeover offer for Klöckner & Co SE by lowering the minimum acceptance threshold from at least 65% to at least 57.5% of Kloeckner shares and extending the acceptance period to March 26, 2026. As of March 9, 2026, the company said it had secured approximately 56.9% of Kloeckner's issued share capital, so completion still depends on reaching the lower threshold. The company said it will not increase the €11.00 per share offer price or make further changes to the offer.
Key points
- Minimum acceptance threshold reduced from at least 65% to at least 57.5% of Kloeckner shares.
- Acceptance period, originally expiring March 12, 2026, now expires March 26, 2026, subject to possible further extension.
- As of March 9, 2026, Worthington Steel had secured approximately 56.9% of Kloeckner's issued share capital.
- Offer is €11.00 in cash per share, described as a 98% premium to Kloeckner's undisturbed three-month volume-weighted average share price on December 5, 2025.
The filing
Written by AI on Nov 8, 2026, 1:55 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 10, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.